Deutsche Bank Aktiengesellschaft Reaffirms "Sell" Rating for Greggs (LON:GRG)

Key Points

• Deutsche Bank has reaffirmed a "sell" rating for Greggs (LON:GRG) with a price objective of GBX 1,330, indicating a potential downside of 16.09% from the current stock price.
• In contrast, Berenberg Bank raised their target price for Greggs from GBX 3,040 to GBX 3,060, rating it as a "buy."
• Greggs' stock saw a 1.1% increase, currently trading at GBX 1,585, while the company has a market capitalization of £1.60 billion.

Greggs (LON:GRG - Get Free Report)'s stock had its "sell" rating reaffirmed by equities researchers at Deutsche Bank Aktiengesellschaft in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. They currently have a GBX 1,330 ($17.65) price target on the stock. Deutsche Bank Aktiengesellschaft's price target would suggest a potential downside of 16.46% from the stock's current price.

Other equities analysts have also issued research reports about the company. Peel Hunt reissued a "hold" rating and set a GBX 1,660 ($22.03) price objective on shares of Greggs in a research note on Tuesday, July 29th. Shore Capital reissued a "hold" rating on shares of Greggs in a research note on Tuesday, July 29th. Finally, Berenberg Bank boosted their price objective on Greggs from GBX 3,040 ($40.35) to GBX 3,060 ($40.62) and gave the stock a "buy" rating in a research note on Wednesday.

Greggs Trading Up 0.8%

LON GRG traded up GBX 12 ($0.16) on Wednesday, reaching GBX 1,592 ($21.13). 591,831 shares of the company were exchanged, compared to its average volume of 1,163,534. The business's fifty day moving average price is GBX 1,848.64 and its 200 day moving average price is GBX 1,909.67. The stock has a market capitalization of £1.61 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 3.39 and a beta of 1.43. The company has a current ratio of 0.80, a quick ratio of 0.88 and a debt-to-equity ratio of 66.19. Greggs has a fifty-two week low of GBX 1,499 ($19.90) and a fifty-two week high of GBX 3,250 ($43.14).

Insider Activity at Greggs

In other Greggs news, insider Roisin Currie purchased 64 shares of the firm's stock in a transaction dated Saturday, June 14th. The shares were acquired at an average price of GBX 2,791 ($37.05) per share, with a total value of £1,786.24 ($2,370.91). 5.89% of the stock is currently owned by company 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.