Greggs’ (GRG) Sell Rating Reiterated at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft restated their sell rating on shares of Greggs (LON:GRG) in a report released on Thursday,Digital Look reports. Deutsche Bank Aktiengesellschaft currently has a GBX 1,330 price target on the stock.

A number of other analysts have also issued reports on GRG. Berenberg Bank boosted their price objective on Greggs from GBX 2,090 to GBX 2,200 and gave the company a “buy” rating in a research note on Thursday. UBS Group restated a “buy” rating and issued a GBX 2,200 target price on shares of Greggs in a research note on Monday, May 11th. Shore Capital Group restated a “hold” rating on shares of Greggs in a research note on Tuesday, May 12th. JPMorgan Chase & Co. lifted their target price on Greggs from GBX 2,050 to GBX 2,210 and gave the company an “outperform” rating in a report on Thursday. Finally, Jefferies Financial Group reiterated a “hold” rating and set a GBX 1,610 price target on shares of Greggs in a research report on Wednesday. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Greggs has a consensus rating of “Hold” and a consensus price target of GBX 1,881.43.

Greggs Trading Down 7.5%

Shares of GRG stock opened at GBX 1,880 on Thursday. The company’s fifty day simple moving average is GBX 1,650.54 and its two-hundred day simple moving average is GBX 1,624.75. 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 has a 1 year low of GBX 1,407.20 and a 1 year high of GBX 2,046. The stock has a market capitalization of £1.92 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 3.39 and a beta of 1.15.

Greggs (LON:GRG) last posted its earnings results on Wednesday, July 29th. The company reported GBX 55.10 earnings per share (EPS) for the quarter. Greggs had a return on equity of 20.97% and a net margin of 5.93%. As a group, analysts anticipate that Greggs will post 142.3763386 earnings per share for the current year.

Insider Activity at Greggs

In other news, insider Richard Smothers purchased 1,615 shares of Greggs stock in a transaction dated Tuesday, May 19th. The stock was purchased at an average cost of GBX 17 per share, for a total transaction of £274.55. 0.62% of the stock is owned by company insiders.

Key Greggs News

Here are the key news stories impacting Greggs this week:

• Positive Sentiment: Strong first-half results: Greggs reported a 20% increase in first-half profit, with growth in its grocery business and continued market-share gains. The company’s value strategy is helping maintain customer demand despite pressure on household budgets. UK’s Greggs first-half profit up 20% as grocery business grows
• Positive Sentiment: Positive broker revisions: Berenberg raised its price target from GBX 2,090 to GBX 2,200 and upgraded Greggs to “buy.” JPMorgan also increased its target from GBX 2,050 to GBX 2,210 and maintained an “outperform” stance. These revisions reinforce the bullish reaction to the trading update. Broker views
• Positive Sentiment: International growth opportunity: Reports that Greggs is finding demand for its products, including sausage rolls, in the Canary Islands highlight potential for expansion beyond its core UK estate. UK’s Greggs finds appetite for sausage rolls in the Canary Islands
• Neutral Sentiment: Mixed analyst consensus: Royal Bank of Canada raised its target from GBX 1,830 to GBX 1,960 but retained a “sector perform” rating. Jefferies likewise reiterated its “hold” recommendation, indicating that valuation or execution risks may limit near-term upside. Broker views
• Negative Sentiment: Bearish counterpoint: Deutsche Bank reaffirmed its “sell” rating and assigned a GBX 1,330 target, substantially below recent trading levels. This signals concern that the strong results and rally may already be reflected in the share price. Deutsche Bank broker view

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.