Greggs (LON:GRG) Trading Down 13.9% - Should You Sell?

Greggs plc (LON:GRG - Get Free Report) fell 13.9% on Wednesday . The stock traded as low as GBX 1,656 ($22.61) and last traded at GBX 1,700 ($23.21). 8,483,552 shares traded hands during trading, an increase of 563% from the average session volume of 1,280,353 shares. The stock had previously closed at GBX 1,975 ($26.97).

Analyst Ratings Changes

A number of equities analysts have recently commented on GRG shares. Shore Capital reissued a "buy" rating on shares of Greggs in a research report on Tuesday, May 20th. Berenberg Bank lowered their price target on shares of Greggs from GBX 3,250 ($44.38) to GBX 3,040 ($41.51) and set a "buy" rating for the company in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft restated a "sell" rating and issued a GBX 1,330 ($18.16) price objective on shares of Greggs in a report on Thursday.

Greggs Stock Up 1.5%

The firm has a 50-day moving average price of GBX 1,947.79 and a two-hundred day moving average price of GBX 2,057.80. The firm has a market cap of £1.71 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 3.39 and a beta of 1.43. The company has a debt-to-equity ratio of 66.19, a quick ratio of 0.88 and a current ratio of 0.80.

Insider Buying and Selling

In related news, insider Roisin Currie purchased 64 shares of the company's stock in a transaction that occurred on Saturday, June 14th. The shares were purchased at an average price of GBX 2,791 ($38.11) per share, for a total transaction of £1,786.24 ($2,439.22). 5.89% of the stock is owned by corporate insiders.

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.