Greggs (LON:GRG) Given New GBX 1,960 Price Target at Royal Bank Of Canada

Greggs (LON:GRG) had its target price raised by Royal Bank Of Canada from GBX 1,830 to GBX 1,960 in a research report released on Friday morning, Marketbeat.com reports. The firm currently has a sector perform rating on the stock.

A number of other brokerages have also recently commented on GRG. Deutsche Bank Aktiengesellschaft reissued a “sell” rating and issued a GBX 1,330 price objective on shares of Greggs in a research note on Thursday. Shore Capital Group reaffirmed a “hold” rating on shares of Greggs in a research report on Tuesday, May 12th. UBS Group reiterated a “buy” rating and issued a GBX 2,200 target price on shares of Greggs in a report on Monday, May 11th. JPMorgan Chase & Co. lifted their price target on shares of Greggs from GBX 2,050 to GBX 2,210 and gave the company an “outperform” rating in a research report on Thursday. Finally, 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. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of GBX 1,881.43.

Greggs Price Performance

GRG stock opened at GBX 1,880 on Friday. The company has a debt-to-equity ratio of 74.16, a current ratio of 0.52 and a quick ratio of 0.88. The company’s 50-day moving average is GBX 1,650.54 and its 200-day moving average is GBX 1,624.75. The stock has a market capitalization of £1.92 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 3.39 and a beta of 1.15. Greggs has a 1 year low of GBX 1,407.20 and a 1 year high of GBX 2,046.

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

Insider Transactions at Greggs

In related news, insider Richard Smothers purchased 1,615 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was acquired at an average price of GBX 17 per share, for a total transaction of £274.55. Company insiders own 0.62% of the company’s stock.

Key Stories Impacting Greggs

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

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.