Brokerages Set Greggs plc (LON:GRG) Price Target at GBX 1,824.29

Shares of Greggs plc (LON:GRG) have received a consensus rating of “Hold” from the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is GBX 1,881.43.

Several equities analysts have issued reports on GRG shares. Royal Bank Of Canada raised their price objective on Greggs from GBX 1,830 to GBX 1,960 and gave the stock a “sector perform” rating in a report on Friday. Berenberg Bank boosted their target price on Greggs from GBX 2,090 to GBX 2,200 and gave the company a “buy” rating in a report on Thursday. Jefferies Financial Group restated a “hold” rating and set a GBX 1,610 price target on shares of Greggs in a research note on Wednesday. JPMorgan Chase & Co. lifted their price target on Greggs from GBX 2,050 to GBX 2,210 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Shore Capital Group reaffirmed a “hold” rating on shares of Greggs in a research report on Tuesday, May 12th.

Insider Activity at Greggs

In other Greggs news, insider Richard Smothers bought 1,615 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were acquired at an average cost of GBX 17 per share, with a total value of £274.55. 0.62% of the stock is owned by insiders.

Key Greggs News

Here are the key news stories impacting Greggs this week:

• Positive Sentiment: Strong first-half results: Greggs reported a 20% increase in first-half profit, with growth in its grocery business and continued market-share gains. The company’s value strategy is helping maintain customer demand despite pressure on household budgets. UK’s Greggs first-half profit up 20% as grocery business grows
• Positive Sentiment: Positive broker revisions: Berenberg raised its price target from GBX 2,090 to GBX 2,200 and upgraded Greggs to “buy.” JPMorgan also increased its target from GBX 2,050 to GBX 2,210 and maintained an “outperform” stance. These revisions reinforce the bullish reaction to the trading update. Broker views
• Positive Sentiment: International growth opportunity: Reports that Greggs is finding demand for its products, including sausage rolls, in the Canary Islands highlight potential for expansion beyond its core UK estate. UK’s Greggs finds appetite for sausage rolls in the Canary Islands
• Neutral Sentiment: Mixed analyst consensus: Royal Bank of Canada raised its target from GBX 1,830 to GBX 1,960 but retained a “sector perform” rating. Jefferies likewise reiterated its “hold” recommendation, indicating that valuation or execution risks may limit near-term upside. Broker views
• Negative Sentiment: Bearish counterpoint: Deutsche Bank reaffirmed its “sell” rating and assigned a GBX 1,330 target, substantially below recent trading levels. This signals concern that the strong results and rally may already be reflected in the share price. Deutsche Bank broker view

Greggs Stock Performance

Shares of GRG stock opened at GBX 1,880 on Wednesday. The firm has a fifty day moving average price of GBX 1,650.54 and a 200 day moving average price of GBX 1,624.75. The company has a market cap of £1.92 billion, a P/E ratio of 15.76, a PEG ratio of 3.39 and a beta of 1.15. Greggs has a 12 month low of GBX 1,407.20 and a 12 month high of GBX 2,046. The company has a current ratio of 0.52, a quick ratio of 0.88 and a debt-to-equity ratio of 74.16.

Greggs (LON:GRG) last issued its earnings results on Wednesday, July 29th. The company reported GBX 55.10 earnings per share for the quarter. Greggs had a return on equity of 20.97% and a net margin of 5.93%. Sell-side analysts predict that Greggs will post 142.3763386 earnings per share for the current fiscal year.

About Greggs

Greggs is a leading UK food-on-the-go retailer with more than 2,700 shops nationwide and approximately 33,000 employees across the business.

As a food-on-the-go retailer, Greggs specialises in daily fresh shop-made sandwiches, and savouries baked fresh in the shop ovens throughout the day. These are further complemented by popular products and ranges including freshly ground coffee, breakfast, confectionery and evening menu items. Greggs also offers a healthier options range which includes a selection of gluten-free, vegan-friendly and lower calorie products.