Greggs (LON:GRG) Stock Price Expected to Rise, Berenberg Bank Analyst Says

Greggs (LON:GRG) had its price target hoisted by equities research analysts at Berenberg Bank from GBX 2,090 to GBX 2,200 in a research note issued to investors on Thursday,Digital Look reports. The brokerage currently has a “buy” rating on the stock. Berenberg Bank’s price target would indicate a potential upside of 8.13% from the company’s current price.

GRG has been the subject of several other research reports. UBS Group reaffirmed a “buy” rating and set a GBX 2,200 price target on shares of Greggs in a research note on Monday, May 11th. Shore Capital Group reissued a “hold” rating on shares of Greggs in a research note on Tuesday, May 12th. Jefferies Financial Group restated a “hold” rating and set a GBX 1,610 target price on shares of Greggs in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft restated a “sell” rating and set a GBX 1,330 target price on shares of Greggs in a research report on Wednesday, May 13th. Four 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, the company currently has a consensus rating of “Hold” and an average target price of GBX 1,840.

Greggs Stock Performance

GRG opened at GBX 2,034.52 on Thursday. Greggs has a 1-year low of GBX 1,407.20 and a 1-year high of GBX 2,036. The stock has a market cap of £2.07 billion, a P/E ratio of 17.05, a P/E/G ratio of 3.39 and a beta of 1.15. The stock’s 50 day simple moving average is GBX 1,641.42 and its 200 day simple moving average is GBX 1,620.23. The company has a debt-to-equity ratio of 75.94, a current ratio of 0.56 and a quick ratio of 0.88.

Greggs (LON:GRG) last issued its quarterly earnings data on Wednesday, July 29th. The company reported GBX 55.10 earnings per share (EPS) for the quarter. Greggs had a return on equity of 20.47% and a net margin of 5.68%. As a group, equities 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 Smothers acquired 1,615 shares of Greggs stock in a transaction dated Tuesday, May 19th. The shares were acquired at an average cost of GBX 17 per share, for a total transaction of £274.55. 0.62% of the stock is currently owned by company insiders.

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.