Greggs (LON:GRG) Share Price Passes Above 200 Day Moving Average – Here’s Why

Shares of Greggs plc (LON:GRG) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 1,671.77 and traded as high as GBX 1,756. Greggs shares last traded at GBX 1,743.81, with a volume of 124,171 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on GRG shares. JPMorgan Chase & Co. upped 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 note on Thursday, July 30th. Jefferies Financial Group lifted their price objective on shares of Greggs from GBX 1,610 to GBX 1,740 and gave the stock a “hold” rating in a research note on Friday, August 28th. Royal Bank Of Canada boosted their target price on shares of Greggs from GBX 1,830 to GBX 1,960 and gave the stock a “sector perform” rating in a report on Friday, July 31st. Berenberg Bank increased their price target on shares of Greggs from GBX 2,090 to GBX 2,200 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating and issued a GBX 1,330 price target on shares of Greggs in a report on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Greggs presently has a consensus rating of “Hold” and a consensus price target of GBX 1,900.

Greggs Trading Down 0.5%

The firm has a market cap of £1.78 billion, a PE ratio of 13.54, a P/E/G ratio of 3.39 and a beta of 1.16. The company has a quick ratio of 0.88, a current ratio of 0.52 and a debt-to-equity ratio of 74.16. The company’s 50 day moving average price is GBX 1,772.28 and its two-hundred day moving average price is GBX 1,672.87.

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

Insider Transactions at Greggs

In other Greggs news, insider Richard Hutton sold 3,069 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of GBX 1,926, for a total value of £59,108.94. 0.63% of the stock is currently owned by insiders.

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.