JPMorgan Chase & Co. Issues Pessimistic Forecast for Greggs (LON:GRG) Stock Price

Greggs (LON:GRG) had its price objective decreased by stock analysts at JPMorgan Chase & Co. from GBX 2,060 to GBX 2,050 in a report released on Wednesday, Marketbeat.com reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 25.18% from the stock’s current price.

Several other analysts have also issued reports on GRG. Berenberg Bank reduced their target price on Greggs from GBX 2,640 to GBX 2,170 and set a “buy” rating on the stock in a report on Thursday, January 8th. Jefferies Financial Group downgraded shares of Greggs to a “hold” rating and reduced their price objective for the stock from GBX 2,500 to GBX 1,610 in a research note on Monday, February 9th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of GBX 1,835.

Greggs Stock Performance

Shares of Greggs stock traded up GBX 32.58 during trading on Wednesday, reaching GBX 1,637.58. The company’s stock had a trading volume of 712,561 shares, compared to its average volume of 1,993,145. Greggs has a 52 week low of GBX 1,407.20 and a 52 week high of GBX 2,237.88. The firm has a market cap of £1.67 billion, a PE ratio of 11.61, a P/E/G ratio of 3.39 and a beta of 1.31. The business’s 50-day moving average price is GBX 1,642.74 and its 200-day moving average price is GBX 1,621.27. The company has a quick ratio of 0.88, a current ratio of 0.49 and a debt-to-equity ratio of 79.33.

Greggs (LON:GRG) last posted its quarterly earnings data on Wednesday, March 4th. The company reported GBX 120 earnings per share (EPS) for the quarter. Greggs had a net margin of 6.96% and a return on equity of 25.41%. Equities analysts forecast that Greggs will post 142.3763386 earnings per share for the current year.

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.