Greggs plc (LON:GRG - Get Free Report) dropped 13.7% on Wednesday after Berenberg Bank lowered their price target on the stock from GBX 3,250 to GBX 3,040. Berenberg Bank currently has a buy rating on the stock. Greggs traded as low as GBX 1,682 ($22.96) and last traded at GBX 1,703.58 ($23.26). Approximately 6,679,423 shares changed hands during trading, an increase of 428% from the average daily volume of 1,266,034 shares. The stock had previously closed at GBX 1,975 ($26.96).
Separately, Shore Capital restated a "buy" rating on shares of Greggs in a research note on Tuesday, May 20th.
View Our Latest Stock Report on Greggs
Insiders Place Their Bets
In related news, insider Roisin Currie purchased 64 shares of the company's stock in a transaction on Saturday, June 14th. The shares were bought at an average cost of GBX 2,791 ($38.10) per share, for a total transaction of £1,786.24 ($2,438.55). 5.89% of the stock is currently owned by insiders.
Greggs Price Performance
The stock's 50-day moving average is GBX 1,944.89 and its 200 day moving average is GBX 2,050.10. The company has a debt-to-equity ratio of 66.19, a quick ratio of 0.88 and a current ratio of 0.80. The stock has a market capitalization of £1.71 billion, a PE ratio of 12.61, a P/E/G ratio of 3.39 and a beta of 1.43.
About Greggs
(
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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.
Further Reading
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