Greggs (LON:GRG) Sets New 1-Year High - Should You Buy?

Key Points

• Greggs shares surged to a new 52-week high of GBX 1,879, closing near GBX 1,874 after previously ending at GBX 1,690.
• Analyst sentiment is mixed: four firms rate the stock “Buy,” three say “Hold,” and one says “Sell.” The consensus rating is “Hold,” with an average price target of GBX 1,824.29—below the latest trading level.
• Greggs reported quarterly EPS of GBX 55.10, with a 20.47% return on equity and 5.68% net margin. The company operates more than 2,700 UK shops and employs approximately 33,000 people.

Greggs plc (LON:GRG - Get Free Report)'s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as GBX 1,879 and last traded at GBX 1,874, with a volume of 3320367 shares changing hands. The stock had previously closed at GBX 1,690.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Jefferies Financial Group restated a "hold" rating and issued a GBX 1,610 target price on shares of Greggs in a research report on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating and set a GBX 1,330 price target on shares of Greggs in a research report on Wednesday, May 13th. Shore Capital Group reissued a "hold" rating on shares of Greggs in a research note on Tuesday, May 12th. UBS Group restated a "buy" rating and issued a GBX 2,200 price objective on shares of Greggs in a report on Monday, May 11th. Finally, Berenberg Bank reaffirmed a "buy" rating and issued a GBX 2,090 price objective on shares of Greggs in a research note on Thursday, May 14th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of GBX 1,824.29.

Greggs Stock Performance

The business has a 50 day moving average price of GBX 1,635.24 and a two-hundred day moving average price of GBX 1,618.12. The company has a debt-to-equity ratio of 75.94, a quick ratio of 0.88 and a current ratio of 0.56. The company has a market cap of £1.89 billion, a P/E ratio of 15.53, a price-to-earnings-growth ratio of 3.39 and a beta of 1.15.

Greggs (LON:GRG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported GBX 55.10 EPS for the quarter. Greggs had a return on equity of 20.47% and a net margin of 5.68%. On average, sell-side analysts anticipate that Greggs plc will post 142.3763386 earnings per share for the current year.

Insider Activity at Greggs

In other news, insider Richard Smothers purchased 1,615 shares of the company's stock in a transaction on Tuesday, May 19th. The stock was acquired at an average price of GBX 17 per share, with a total value of £274.55. 0.62% of the stock is currently owned by insiders.

Greggs Company Profile

Greggs is a leading UK food-on-the-go retailer with more than 2,700 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. Greggs also offers a healthier options range which includes a selection of gluten-free, vegan-friendly and lower calorie products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.