Greggs plc (LON:GRG) Stock Has Average Price Target of GBX 1,962.86

Key Points

• Greggs has a consensus “Hold” rating from seven analysts, with three buys, three holds and one sell. The average 12-month price target is GBX 1,962.86, below the stock’s opening price of GBX 2,108.
• Recent broker updates were mixed: JPMorgan raised its target to GBX 2,210 with an “outperform” rating, while Deutsche Bank maintained a “sell” rating despite increasing its target to GBX 1,420.
• Greggs reported quarterly EPS of GBX 55.10, with a 20.97% return on equity and a 5.93% net margin. Insider Richard Hutton sold 3,069 shares for approximately £59,109, while insiders own 0.63% of the company.

Greggs plc (LON:GRG - Get Free Report) has earned a consensus recommendation of "Hold" from the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is GBX 1,962.86.

GRG has been the subject of a number of research reports. Royal Bank Of Canada lifted their target price on 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 boosted their target price on shares of Greggs from GBX 1,330 to GBX 1,420 and gave the company a "sell" rating in a research report on Wednesday, September 30th. Jefferies Financial Group upped their price target on shares of Greggs from GBX 1,610 to GBX 1,740 and gave the company a "hold" rating in a research note on Friday, August 28th. JPMorgan Chase & Co. upped their price target on shares of Greggs from GBX 2,050 to GBX 2,210 and gave the company an "outperform" rating in a research note on Thursday, July 30th. Finally, Shore Capital Group reaffirmed a "hold" rating and set a GBX 1,910 price target on shares of Greggs in a research report on Wednesday, September 30th.

Insider Transactions at Greggs

In other Greggs news, insider Richard Hutton sold 3,069 shares of the business'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. 0.63% of the stock is owned by corporate insiders.

Greggs Stock Performance

LON:GRG opened at GBX 2,108 on Monday. The stock has a market cap of £2.15 billion, a P/E ratio of 16.35, a PEG ratio of 3.39 and a beta of 1.16. The stock has a 50 day simple moving average of GBX 1,870.63 and a 200 day simple moving average of GBX 1,711.45. The company has a current ratio of 0.52, a quick ratio of 0.88 and a debt-to-equity ratio of 74.16. Greggs has a 1-year low of GBX 1,407.20 and a 1-year high of GBX 2,146.

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 (EPS) for the quarter. Greggs had a return on equity of 20.97% and a net margin of 5.93%. Research analysts anticipate that Greggs will post 142.38 earnings per share 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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