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 restated by stock analysts at Shore Capital in a note issued to investors on Tuesday, MarketBeat Ratings reports.

Several other research analysts have also recently issued reports on GRG. Deutsche Bank Aktiengesellschaft reissued a "sell" rating and set a GBX 1,330 ($17.63) price target on shares of Greggs in a report on Thursday, July 3rd. Berenberg Bank reduced their price objective on shares of Greggs from GBX 3,250 ($43.09) to GBX 3,040 ($40.31) and set a "buy" rating for the company in a research report on Wednesday, July 2nd.

Greggs Price Performance

Shares of GRG remained flat at GBX 1,567 ($20.78) during midday trading on Tuesday. The stock had a trading volume of 782,630 shares, compared to its average volume of 1,170,769. The firm has a fifty day simple moving average of GBX 1,881.17 and a 200-day simple moving average of GBX 1,921.04. The company has a debt-to-equity ratio of 66.19, a current ratio of 0.80 and a quick ratio of 0.88. Greggs has a twelve month low of GBX 1,499 ($19.88) and a twelve month high of GBX 3,250 ($43.09). The stock has a market cap of £1.58 billion, a P/E ratio of 11.62, a price-to-earnings-growth ratio of 3.39 and a beta of 1.43.

Insider Transactions at Greggs

In other Greggs news, insider Roisin Currie purchased 64 shares of the stock in a transaction dated Saturday, June 14th. The shares were acquired at an average cost of GBX 2,791 ($37.01) per share, for a total transaction of £1,786.24 ($2,368.39). Company 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.