Greggs (LON:GRG) Price Target Lowered to GBX 3,040 at Berenberg Bank

Greggs (LON:GRG - Free Report) had its target price decreased by Berenberg Bank from GBX 3,250 ($44.34) to GBX 3,040 ($41.48) in a report released on Wednesday, Marketbeat Ratings reports. Berenberg Bank currently has a buy rating on the stock.

Separately, Shore Capital restated a "buy" rating on shares of Greggs in a research note on Tuesday, May 20th.

Greggs Stock Up 1.3%

LON GRG traded up GBX 22 ($0.30) during mid-day trading on Wednesday, reaching GBX 1,722 ($23.50). 543,824 shares of the company's stock traded hands, compared to its average volume of 1,254,579. Greggs has a 1-year low of GBX 1,645 ($22.45) and a 1-year high of GBX 3,250 ($44.34). The company has a fifty day simple moving average of GBX 1,942.59 and a 200-day simple moving average of GBX 2,037.45. The company has a current ratio of 0.80, a quick ratio of 0.88 and a debt-to-equity ratio of 66.19. The company has a market cap of £1.74 billion, a price-to-earnings ratio of 12.77, a P/E/G ratio of 3.39 and a beta of 1.43.

Insider Activity at Greggs

In other news, insider Roisin Currie bought 64 shares of the firm's stock in a transaction dated Saturday, June 14th. The stock was bought at an average price of GBX 2,791 ($38.08) per share, for a total transaction of £1,786.24 ($2,437.22). Insiders own 5.89% of the company's stock.

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.