Greggs (LON:GRG) Receives Hold Rating from Peel Hunt

Key Points

• Greggs received a "hold" rating from Peel Hunt, with a price objective of GBX 1,660, indicating a potential downside of 3.30% from its current stock price.
• The stock price recently increased by 7.0% to GBX 1,716.67 with significant trading volume of nearly 18 million shares.
• Insider Matthew Davies purchased 1,249 shares at an average price of GBX 1,600, reflecting confidence in the company despite mixed analyst ratings.

Greggs (LON:GRG - Get Free Report)'s stock had its "hold" rating restated by research analysts at Peel Hunt in a research report issued to clients and investors on Wednesday,Digital Look reports. They presently have a GBX 1,660 price objective on the stock. Peel Hunt's price objective points to a potential downside of 3.30% from the company's current price.

A number of other brokerages have also weighed in on GRG. Berenberg Bank boosted their price objective on shares of Greggs from GBX 3,040 to GBX 3,060 and gave the company a "buy" rating in a report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft reissued a "sell" rating and set a GBX 1,330 price objective on shares of Greggs in a report on Wednesday, July 30th. Finally, Shore Capital reissued a "hold" rating on shares of Greggs in a report on Wednesday. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of GBX 2,016.67.

Greggs Stock Up 7.0%

LON GRG traded up GBX 112.67 on Wednesday, hitting GBX 1,716.67. The stock had a trading volume of 17,902,525 shares, compared to its average volume of 1,239,449. The business's fifty day moving average price is GBX 1,601.15 and its 200 day moving average price is GBX 1,772.52. 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 52-week low of GBX 1,499 and a 52-week high of GBX 2,980. The stock has a market cap of £1.75 billion, a price-to-earnings ratio of 1,216.63, a price-to-earnings-growth ratio of 3.39 and a beta of 1.43.

Insider Buying and Selling

In related news, insider Matthew Davies purchased 1,249 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was purchased at an average price of GBX 1,600 per share, with a total value of £19,984. Company insiders own 0.56% 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.