Brokerages Set Greggs plc (LON:GRG) PT at GBX 1,993.33

Shares of Greggs plc (LON:GRG) have received an average rating of “Hold” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is GBX 1,993.33.

A number of equities analysts have issued reports on GRG shares. Jefferies Financial Group reduced their target price on Greggs from GBX 2,650 to GBX 2,500 and set a “buy” rating on the stock in a report on Thursday, October 2nd. Berenberg Bank reduced their price objective on shares of Greggs from GBX 2,640 to GBX 2,170 and set a “buy” rating on the stock in a research note on Thursday, January 8th. JPMorgan Chase & Co. started coverage on shares of Greggs in a report on Friday, December 5th. They set an “overweight” rating and a GBX 2,110 price objective for the company. Royal Bank Of Canada cut their target price on shares of Greggs from GBX 2,350 to GBX 2,190 and set an “outperform” rating on the stock in a report on Thursday, October 2nd. Finally, Shore Capital reiterated a “hold” rating on shares of Greggs in a report on Wednesday, October 1st.

Insider Buying and Selling at Greggs

In other news, insider Richard Hutton sold 7,438 shares of Greggs stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of GBX 1,571, for a total transaction of £116,850.98. 0.57% of the stock is owned by company insiders.

Greggs Stock Performance

GRG stock opened at GBX 1,649.82 on Friday. Greggs has a twelve month low of GBX 1,407.20 and a twelve month high of GBX 2,246. The company has a quick ratio of 0.88, a current ratio of 0.80 and a debt-to-equity ratio of 66.19. The company has a market cap of £1.68 billion, a P/E ratio of 11.69, a price-to-earnings-growth ratio of 3.39 and a beta of 1.43. The business’s fifty day moving average is GBX 1,619.42 and its 200-day moving average is GBX 1,637.89.

About Greggs

Greggs is a leading UK food-on-the-go retailer with more than 2,600 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.