Shore Capital Group Reaffirms Hold Rating for Greggs (LON:GRG)

Greggs (LON:GRG)‘s stock had its “hold” rating reissued by investment analysts at Shore Capital Group in a research note issued to investors on Wednesday, Digital Look reports. They currently have a GBX 1,910 target price on the stock. Shore Capital Group’s price objective indicates a potential downside of 5.82% from the company’s previous close.

A number of other research firms have also recently commented on GRG. Jefferies Financial Group lifted their price target on shares of Greggs from GBX 1,610 to GBX 1,740 and gave the stock a “hold” rating in a report on Friday, August 28th. Berenberg Bank raised their target price on Greggs from GBX 2,090 to GBX 2,200 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Royal Bank Of Canada upped their price target on Greggs from GBX 1,830 to GBX 1,960 and gave the company a “sector perform” rating in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating and set a GBX 1,330 price target on shares of Greggs in a research note on Thursday, July 30th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Greggs from GBX 2,050 to GBX 2,210 and gave the company an “outperform” rating in a report on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Greggs has a consensus rating of “Hold” and a consensus target price of GBX 1,901.25.

Greggs Stock Performance

Shares of LON:GRG traded up GBX 153 during midday trading on Wednesday, reaching GBX 2,028. The company had a trading volume of 1,826,321 shares, compared to its average volume of 3,463,433. The stock has a market cap of £2.07 billion, a P/E ratio of 15.73, a P/E/G ratio of 3.39 and a beta of 1.16. The company’s 50 day moving average price is GBX 1,823.54 and its 200 day moving average price is GBX 1,685.89. 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 has a 52-week low of GBX 1,407.20 and a 52-week high of GBX 2,058.

Greggs (LON:GRG) last announced its quarterly earnings data on Wednesday, July 29th. The company reported GBX 55.10 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 anticipate that Greggs will post 142.3763386 EPS for the current fiscal year.

Insider Buying and Selling at Greggs

In related news, insider Richard Hutton sold 3,069 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of GBX 1,926, for a total value of £59,108.94. Insiders own 0.63% of the company’s stock.

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.