Greggs (LON:GRG) Trading Down 15.2% - What's Next?

Greggs plc (LON:GRG - Get Free Report)'s stock price traded down 15.2% on Wednesday . The stock traded as low as GBX 1,646 ($22.48) and last traded at GBX 1,675 ($22.87). 5,472,417 shares traded hands during mid-day trading, an increase of 336% from the average session volume of 1,256,455 shares. The stock had previously closed at GBX 1,975 ($26.97).

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GRG. Deutsche Bank Aktiengesellschaft reissued a "sell" rating and set a GBX 1,330 ($18.16) price target on shares of Greggs in a report on Thursday. Shore Capital reissued a "buy" rating on shares of Greggs in a report on Tuesday, May 20th. Finally, Berenberg Bank dropped their price objective on Greggs from GBX 3,250 ($44.38) to GBX 3,040 ($41.51) and set a "buy" rating on the stock in a report on Wednesday.

Greggs Stock Performance

The firm has a market capitalization of £1.71 billion, a PE ratio of 12.61, a PEG ratio of 3.39 and a beta of 1.43. The stock's 50 day moving average price is GBX 1,947.79 and its two-hundred day moving average price is GBX 2,057.80. The company has a current ratio of 0.80, a quick ratio of 0.88 and a debt-to-equity ratio of 66.19.

Insider Buying and Selling at Greggs

In other news, insider Roisin Currie purchased 64 shares of the stock in a transaction on Saturday, June 14th. The stock was purchased at an average price of GBX 2,791 ($38.11) per share, with a total value of £1,786.24 ($2,439.22). Company 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.