Greggs (LON:GRG) Earns "Hold" Rating from Shore Capital

Key Points

• Greggs' stock has been given a "hold" rating by Shore Capital, amidst varying opinions from other analysts regarding its future performance.
• Berenberg Bank has lowered its price target for Greggs shares from GBX 3,250 to GBX 3,040, while Deutsche Bank maintains a "sell" rating with a price target of GBX 1,330.
• Greggs shares opened at GBX 1,599.93, showing a decrease of 2.7%, and the company has a market cap of £1.61 billion.

Greggs (LON:GRG - Get Free Report)'s stock had its "hold" rating reissued by stock analysts at Shore Capital in a research note issued to investors on Tuesday, MarketBeat.com reports.

Other analysts have also recently issued reports about the stock. Berenberg Bank dropped their target price on shares of Greggs from GBX 3,250 ($43.14) to GBX 3,040 ($40.35) and set a "buy" rating on the stock in a report on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft restated a "sell" rating and set a GBX 1,330 ($17.65) price target on shares of Greggs in a research report on Thursday, July 3rd.

Greggs Stock Performance

Shares of GRG stock traded up GBX 12 ($0.16) during mid-day trading on Tuesday, hitting GBX 1,592 ($21.13). The stock had a trading volume of 591,831 shares, compared to its average volume of 1,163,534. 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). The firm has a market cap of £1.61 billion, a PE ratio of 11.81, a PEG ratio of 3.39 and a beta of 1.43. The company has a debt-to-equity ratio of 66.19, a current ratio of 0.80 and a quick ratio of 0.88. The company's 50-day simple moving average is GBX 1,848.64 and its 200-day simple moving average is GBX 1,911.54.

Insiders Place Their Bets

In related news, insider Roisin Currie acquired 64 shares of the firm's stock in a transaction that occurred on Saturday, June 14th. The shares were bought at an average cost of GBX 2,791 ($37.05) per share, for a total transaction of £1,786.24 ($2,370.91). Corporate insiders own 5.89% of the company's stock.

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.