Greggs' (GRG) "Hold" Rating Reiterated at Shore Capital

Key Points

• Greggs' stock has had its "hold" rating reiterated by Shore Capital, reflecting a cautious outlook from analysts on the company's performance.
• Recent reports from other firms include Berenberg Bank raising their price target to GBX 3,060 with a "buy" rating, while Deutsche Bank maintained a "sell" rating with a target price of GBX 1,330.
• Insider Matthew Davies purchased 1,249 shares at an average cost of GBX 1,600, indicating confidence from company executives despite mixed analyst ratings.

Greggs (LON:GRG - Get Free Report)'s stock had its "hold" rating reiterated by stock analysts at Shore Capital in a report issued on Wednesday,Digital Look reports.

A number of other research firms have also recently issued reports on GRG. Berenberg Bank lifted their price objective on Greggs from GBX 3,040 to GBX 3,060 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Peel Hunt restated a "hold" rating and set a GBX 1,660 target price on shares of Greggs in a report on Tuesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft restated a "sell" rating and set a GBX 1,330 target price on shares of Greggs in a report on Wednesday, July 30th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Greggs currently has a consensus rating of "Hold" and an average price target of GBX 2,016.67.

Greggs Stock Up 7.0%

Shares of Greggs stock traded up GBX 112.67 during midday trading on Wednesday, hitting GBX 1,716.67. The company's stock had a trading volume of 17,902,525 shares, compared to its average volume of 1,239,449. The firm has a market capitalization of £1.75 billion, a P/E ratio of 1,216.63, a PEG ratio of 3.39 and a beta of 1.43. The stock has a 50-day simple moving average of GBX 1,601.15 and a 200-day simple moving average of GBX 1,772.52. The company has a quick ratio of 0.88, a current ratio of 0.80 and a debt-to-equity ratio of 66.19. Greggs has a 1-year low of GBX 1,499 and a 1-year high of GBX 2,980.

Insider Activity at Greggs

In other news, insider Matthew Davies bought 1,249 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was acquired at an average cost of GBX 1,600 per share, for a total transaction of £19,984. 0.56% of the stock is currently owned by corporate insiders.

About Greggs

Greggs is a leading UK food-on-the-go retailer with more than 2,600 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.

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