Greggs (LON:GRG) Stock Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• Greggs shares rose above their 200-day moving average, reaching GBX 1,829 and last trading at GBX 1,801, despite being down 1.2% in the session.
• Analyst views remain mixed: Greggs has an overall “Hold” consensus and an average price target of GBX 1,881.43, with targets ranging from GBX 1,330 to GBX 2,210.
• The company reported quarterly EPS of GBX 55.10, while insider Richard Hutton sold 3,069 shares for approximately £59,109 on August 7.

Shares of Greggs plc (LON:GRG - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 1,642.71 and traded as high as GBX 1,829. Greggs shares last traded at GBX 1,801, with a volume of 371,679 shares trading hands.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Shore Capital Group reissued a "hold" rating on shares of Greggs in a research report on Tuesday, May 12th. UBS Group reaffirmed a "buy" rating and set a GBX 2,200 target price on shares of Greggs in a research note on Monday, May 11th. Royal Bank Of Canada upped their target price on Greggs from GBX 1,830 to GBX 1,960 and gave the company a "sector perform" rating in a report on Friday, July 31st. JPMorgan Chase & Co. raised their price target on shares of Greggs from GBX 2,050 to GBX 2,210 and gave the stock an "outperform" rating in a report on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating and set a GBX 1,330 price objective on shares of Greggs in a research report on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Greggs presently has an average rating of "Hold" and a consensus target price of GBX 1,881.43.

Greggs Trading Down 1.2%

The firm has a market capitalization of £1.84 billion, a price-to-earnings ratio of 13.97, a price-to-earnings-growth ratio of 3.39 and a beta of 1.16. The company has a fifty day moving average price of GBX 1,692.08 and a 200-day moving average price of GBX 1,642.71. The company has a current ratio of 0.52, a quick ratio of 0.88 and a debt-to-equity ratio of 74.16.

Greggs (LON:GRG - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported GBX 55.10 EPS for the quarter. Greggs had a return on equity of 20.97% and a net margin of 5.93%. On average, equities research analysts predict that Greggs plc will post 142.3763386 EPS for the current year.

Insider Activity at Greggs

In other news, insider Richard Hutton sold 3,069 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of GBX 1,926, for a total transaction of £59,108.94. 0.62% of the stock is currently owned by company 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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source