Greggs (LON:GRG) Hits New 52-Week Low - Here's What Happened

Key Points

• Greggs plc has reached a new 52-week low, trading at GBX 1,645 ($22.10), down from a previous close of GBX 1,700 ($22.84).
• Analysts have given mixed ratings, with Deutsche Bank maintaining a "sell" rating and a target price of GBX 1,330 ($17.87), while Berenberg Bank set a higher target of GBX 3,040 ($40.85) with a "buy" rating.
• Insider Roisin Currie purchased 64 shares at an average price of GBX 2,791 ($37.50) recently, indicating some level of confidence in the company despite recent stock performance.

Greggs plc (LON:GRG - Get Free Report)'s stock price hit a new 52-week low during trading on Monday . The stock traded as low as GBX 1,645 ($21.73) and last traded at GBX 1,645 ($21.73), with a volume of 921500 shares changing hands. The stock had previously closed at GBX 1,700 ($22.46).

Analyst Ratings Changes

Several equities research analysts have commented on GRG shares. Deutsche Bank Aktiengesellschaft reissued a "sell" rating and set a GBX 1,330 ($17.57) price target on shares of Greggs in a research report on Wednesday. Berenberg Bank lifted their target price on Greggs from GBX 3,040 ($40.16) to GBX 3,060 ($40.42) and gave the company a "buy" rating in a research report on Wednesday. Peel Hunt reaffirmed a "hold" rating and issued a GBX 1,660 ($21.93) target price on shares of Greggs in a research report on Tuesday. Finally, Shore Capital reaffirmed a "hold" rating on shares of Greggs in a research report on Tuesday.

Greggs Price Performance

The company has a market capitalization of £1.60 billion, a P/E ratio of 11.79, a price-to-earnings-growth ratio of 3.39 and a beta of 1.43. The company has a quick ratio of 0.88, a current ratio of 0.80 and a debt-to-equity ratio of 66.19. The business's 50-day moving average is GBX 1,869.23 and its two-hundred day moving average is GBX 1,918.60.

Insider Transactions at Greggs

In related news, insider Roisin Currie acquired 64 shares of Greggs stock in a transaction on Saturday, June 14th. The shares were acquired at an average cost of GBX 2,791 ($36.87) per share, with a total value of £1,786.24 ($2,359.63). 5.89% of the stock is currently owned by insiders.

Greggs Company Profile

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.