Greggs (LON:GRG) Price Target Raised to GBX 2,300

Greggs (LON:GRG) had its price target increased by Berenberg Bank from GBX 2,200 to GBX 2,300 in a research report released on Thursday,Digital Look reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also recently commented on GRG. Shore Capital Group restated a “hold” rating and issued a GBX 1,910 target price on shares of Greggs in a research note on Wednesday. Jefferies Financial Group boosted their price target on shares of Greggs from GBX 1,610 to GBX 1,740 and gave the stock a “hold” rating in a research note on Friday, August 28th. JPMorgan Chase & Co. increased their price target on shares of Greggs from GBX 2,050 to GBX 2,210 and gave the stock an “outperform” rating in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft restated a “sell” rating and issued a GBX 1,330 price objective on shares of Greggs in a research report on Thursday, July 30th. Finally, Royal Bank Of Canada lifted their price objective on Greggs from GBX 1,830 to GBX 1,960 and gave the company a “sector perform” rating in a report on Friday, July 31st. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Greggs has an average rating of “Hold” and an average price target of GBX 1,962.86.

Greggs Stock Up 1.9%

GRG stock opened at GBX 2,026 on Thursday. Greggs has a 12 month low of GBX 1,407.20 and a 12 month high of GBX 2,058. The company has a current ratio of 0.52, a quick ratio of 0.88 and a debt-to-equity ratio of 74.16. The firm has a 50-day moving average of GBX 1,848.69 and a two-hundred day moving average of GBX 1,693.05. The company has a market cap of £2.07 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 3.39 and a beta of 1.16.

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

Insider Buying and Selling at Greggs

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

Greggs News Roundup

Here are the key news stories impacting Greggs this week:

• Positive Sentiment: Greggs reported 7.7% third-quarter sales growth, reinforcing the view that customer demand remains resilient. The company also outlined a manufacturing restructuring plan, which could improve efficiency over time. Greggs Reports 7.7% Q3 Sales Growth and Proposes Manufacturing Restructuring
• Positive Sentiment: Analyst expectations have improved following the trading update. Berenberg raised its price target from GBX 2,200 to GBX 2,300 and maintained a buy rating, while other commentary describes the latest forecasts as more favorable. Q4 London Shares to Watch
• Positive Sentiment: Greggs’ fair-value assessment received a boost as analysts incorporated the strong Q3 performance and updated outlook, providing additional support for the stock. Greggs Stock Gets Fair Value Bump
• Neutral Sentiment: Shore Capital reaffirmed its hold rating, suggesting the improved trading momentum is broadly reflected in Greggs’ valuation after its strong share-price performance. Shore Capital Reaffirms Hold Rating
• Negative Sentiment: Deutsche Bank raised its target from GBX 1,330 to GBX 1,420 but retained a sell rating, indicating that it views the shares as overvalued despite the improved outlook. Analysts have also cited ongoing cost pressures as a reason for caution. Deutsche Bank Forecast for Greggs

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.