Greggs plc (LON:GRG) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Analysts have a consensus “Hold” rating on Greggs, with four hold, three buy and one sell recommendation. The average 12-month price target is GBX 1,900, versus the reported share price of GBX 1,745.92.
• Several analysts recently raised their price targets, including JPMorgan to GBX 2,210 and Berenberg to GBX 2,200, while Deutsche Bank maintained a sell rating with a GBX 1,330 target.
• Insider Richard Hutton sold 3,069 shares for approximately £59,109; insiders collectively own 0.63% of Greggs. The company recently reported quarterly EPS of GBX 55.10 and has a market capitalization of about £1.78 billion.

Greggs plc (LON:GRG - Get Free Report) has earned a consensus recommendation of "Hold" from the eight ratings firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is GBX 1,900.

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft restated a "sell" rating and set a GBX 1,330 price objective on shares of Greggs in a research report on Thursday, July 30th. Jefferies Financial Group upped their target price on Greggs from GBX 1,610 to GBX 1,740 and gave the company a "hold" rating in a research report on Friday, August 28th. JPMorgan Chase & Co. lifted their price target on Greggs from GBX 2,050 to GBX 2,210 and gave the stock an "outperform" rating in a report on Thursday, July 30th. Berenberg Bank boosted their price target on Greggs from GBX 2,090 to GBX 2,200 and gave the company a "buy" rating in a research note on Thursday, July 30th. Finally, Royal Bank Of Canada boosted their price target on Greggs from GBX 1,830 to GBX 1,960 and gave the company a "sector perform" rating in a research note on Friday, July 31st.

Insider Activity

In related news, insider Richard Hutton sold 3,069 shares of the company's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of GBX 1,926, for a total value of £59,108.94. Insiders own 0.63% of the company's stock.

Greggs Trading Down 0.5%

Shares of Greggs stock opened at GBX 1,745.92 on Thursday. The company has a debt-to-equity ratio of 74.16, a current ratio of 0.52 and a quick ratio of 0.88. The business has a fifty day simple moving average of GBX 1,777.07 and a two-hundred day simple moving average of GBX 1,673.96. Greggs has a 1 year low of GBX 1,407.20 and a 1 year high of GBX 2,046. The company has a market capitalization of £1.78 billion, a price-to-earnings ratio of 13.54, a P/E/G ratio of 3.39 and a beta of 1.16.

Greggs (LON:GRG - Get Free Report) 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 net margin of 5.93% and a return on equity of 20.97%. Research analysts forecast that Greggs will post 142.3763386 EPS for the current year.

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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