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

Key Points

• Berenberg Bank raised Greggs’ price target from GBX 2,200 to GBX 2,300 and maintained a “buy” rating, implying 16.69% potential upside from the current price.
• Analyst sentiment is mixed: Greggs has three buy, three hold and one sell rating, resulting in an overall “hold” consensus and an average price target of GBX 1,950.
• Greggs shares opened at GBX 1,971, with the company valued at approximately £2.01 billion. The retailer reported quarterly EPS of GBX 55.10, a 5.93% net margin and a 20.97% return on equity.

Greggs (LON:GRG - Get Free Report) had its target price upped by analysts at Berenberg Bank from GBX 2,200 to GBX 2,300 in a research report issued to clients and investors on Thursday, Digital Look reports. The firm presently has a "buy" rating on the stock. Berenberg Bank's price objective would indicate a potential upside of 16.69% from the stock's current price.

Other equities research analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft reissued a "sell" rating and set a GBX 1,330 price target on shares of Greggs in a research report on Thursday, July 30th. JPMorgan Chase & Co. increased their target price on Greggs from GBX 2,050 to GBX 2,210 and gave the company an "outperform" rating in a research note on Thursday, July 30th. Shore Capital Group reiterated a "hold" rating and set a GBX 1,910 target price on shares of Greggs in a research note on Wednesday. Jefferies Financial Group lifted their target price on Greggs from GBX 1,610 to GBX 1,740 and gave the stock a "hold" rating in a report on Friday, August 28th. Finally, Royal Bank Of Canada boosted their price target on Greggs from GBX 1,830 to GBX 1,960 and gave the stock a "sector perform" rating in a research note on Friday, July 31st. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of GBX 1,950.

Greggs Stock Performance

Shares of GRG stock opened at GBX 1,971 on Thursday. The company has a market capitalization of £2.01 billion, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 3.39 and a beta of 1.16. 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 has a one year low of GBX 1,407.20 and a one year high of GBX 2,058. The company's 50-day moving average is GBX 1,831.64 and its 200 day moving average is GBX 1,688.22.

Greggs (LON:GRG - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported GBX 55.10 earnings per share (EPS) for the quarter. Greggs had a net margin of 5.93% and a return on equity of 20.97%. Sell-side analysts expect that Greggs will post 142.3763386 EPS for the current fiscal year.

Insider Buying and Selling at Greggs

In related news, insider Richard Hutton sold 3,069 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of GBX 1,926, for a total transaction of £59,108.94. 0.63% of the stock is owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.