Greggs (LON:GRG) Reaches New 1-Year High on Analyst Upgrade

Greggs plc (LON:GRG)’s share price hit a new 52-week high on Wednesday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from GBX 1,330 to GBX 1,420. Deutsche Bank Aktiengesellschaft currently has a sell rating on the stock. Greggs traded as high as GBX 2,058 and last traded at GBX 1,987.21, with a volume of 9139495 shares. The stock had previously closed at GBX 1,875.

A number of other research firms also recently commented on GRG. Shore Capital Group restated a “hold” rating and set a GBX 1,910 price objective on shares of Greggs in a report on Wednesday. Berenberg Bank lifted their target price on Greggs from GBX 2,200 to GBX 2,300 and gave the company a “buy” rating in a report on Thursday. Royal Bank Of Canada boosted 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. JPMorgan Chase & Co. upped their price target on Greggs from GBX 2,050 to GBX 2,210 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Finally, Jefferies Financial Group raised their price objective on Greggs from GBX 1,610 to GBX 1,740 and gave the stock a “hold” rating in a report on Friday, August 28th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Greggs currently has a consensus rating of “Hold” and an average target price of GBX 1,962.86.

Insider Buying and Selling

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

Key Stories Impacting Greggs

Here are the key news stories impacting Greggs this week:

• Positive Sentiment: Greggs reported 7.7% third-quarter sales growth and raised its profit outlook, citing improved trading. The update reinforces confidence in demand and is the main fundamental reason investors remain constructive. Greggs Reports 7.7% Q3 Sales Growth and Proposes Manufacturing Restructuring
• Positive Sentiment: Berenberg raised its price target from GBX 2,200 to GBX 2,300 and retained a buy rating, implying further upside based on Greggs’ sales momentum and earnings outlook. Shares round-up: why Greggs and Liontrust are big winners
• Positive Sentiment: Greggs is highlighted as a London share to watch in the fourth quarter, suggesting the improved outlook and resilient customer demand could keep the company in focus with investors. Q4 London Shares to Watch
• Neutral Sentiment: Shore Capital reaffirmed its hold rating and set a GBX 1,910 target, indicating that the recent rally may already reflect much of the improved outlook. Shore Capital Greggs Rating
• Negative Sentiment: Deutsche Bank lifted its target from GBX 1,330 to GBX 1,420 but maintained a sell rating. The target remains well below recent trading levels, signaling valuation concerns despite the positive earnings update. Deutsche Bank Forecast for Greggs
• Negative Sentiment: Manufacturing restructuring and ongoing cost pressures introduce execution risks and could weigh on margins, prompting at least one market view to downgrade Greggs to hold above £20 per share. Greggs Cost Pressures and Hold Downgrade

Greggs Trading Up 2.2%

The firm has a market capitalization of £2.07 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 3.39 and a beta of 1.16. The business’s 50-day moving average price is GBX 1,839.81 and its 200 day moving average price is GBX 1,690.70. The company has a debt-to-equity ratio of 74.16, a current ratio of 0.52 and a quick ratio of 0.88.

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

Greggs Company Profile

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.