Greggs (LON:GRG) Given "Hold" Rating at Shore Capital Group

Key Points

• Shore Capital Group reiterated a “Hold” rating on Greggs, with a GBX 1,910 price target implying approximately 5.07% downside from the current price.
• Analyst sentiment remains mixed but averages to “Hold”: three firms rate Greggs a Buy, four a Hold and one a Sell, with a consensus target of GBX 1,901.25.
• Greggs shares rose to GBX 2,012, near their 52-week high of GBX 2,058. The company reported quarterly earnings of GBX 55.10 per share, while insider Richard Hutton sold 3,069 shares worth roughly £59,109.

Greggs (LON:GRG - Get Free Report)'s stock had its "hold" rating restated by research analysts at Shore Capital Group in a report issued on Wednesday, Digital Look reports. They presently have a GBX 1,910 target price on the stock. Shore Capital Group's price target suggests a potential downside of 5.07% from the company's current price.

A number of other research firms have also weighed in on GRG. Royal Bank Of Canada increased their target price on shares of Greggs from GBX 1,830 to GBX 1,960 and gave the stock a "sector perform" rating in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft restated a "sell" rating and set a GBX 1,330 price target on shares of Greggs in a research report on Thursday, July 30th. Jefferies Financial Group upped their price target on 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 objective on Greggs from GBX 2,050 to GBX 2,210 and gave the stock an "outperform" rating in a report on Thursday, July 30th. Finally, Berenberg Bank boosted their target price on shares of Greggs from GBX 2,090 to GBX 2,200 and gave the company a "buy" rating in a report on Thursday, July 30th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of GBX 1,901.25.

Greggs Price Performance

LON GRG traded up GBX 137 during trading hours on Wednesday, hitting GBX 2,012. The company had a trading volume of 9,977,977 shares, compared to its average volume of 3,506,563. The firm has a 50 day simple moving average of GBX 1,823.54 and a 200 day simple moving average of GBX 1,685.89. The firm has a market capitalization of £2.05 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 3.39 and a beta of 1.16. Greggs has a 52 week low of GBX 1,407.20 and a 52 week high of GBX 2,058. The company has a debt-to-equity ratio of 74.16, a quick ratio of 0.88 and a current ratio of 0.52.

Greggs (LON:GRG - Get Free Report) last released 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%. Equities research analysts expect that Greggs will post 142.3763386 earnings per share for the current year.

Insider Activity at Greggs

In other news, insider Richard Hutton sold 3,069 shares of the 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. Corporate insiders own 0.63% of the company's stock.

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.

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