Greggs (LON:GRG) Stock Price Down 15.2% Following Analyst Downgrade

Greggs plc (LON:GRG - Get Free Report)'s stock price dropped 15.2% during mid-day trading on Thursday 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 1,646 ($22.46) and last traded at GBX 1,675 ($22.86). Approximately 5,472,417 shares were traded during trading, an increase of 336% from the average daily volume of 1,256,455 shares. The stock had previously closed at GBX 1,975 ($26.96).

Separately, Shore Capital reiterated a "buy" rating on shares of Greggs in a report on Tuesday, May 20th.

Insider Transactions at Greggs

In other news, insider Roisin Currie purchased 64 shares of the firm's stock in a transaction on Saturday, June 14th. The stock was bought at an average cost of GBX 2,791 ($38.09) per share, for a total transaction of £1,786.24 ($2,437.89). 5.89% of the stock is owned by company insiders.

Greggs Trading Up 1.3%

The company has a debt-to-equity ratio of 66.19, a current ratio of 0.80 and a quick ratio of 0.88. The company's 50 day moving average is GBX 1,942.59 and its two-hundred day moving average is GBX 2,042.66. The firm has a market cap of £1.74 billion, a P/E ratio of 12.77, a PEG ratio of 3.39 and a beta of 1.43.

About Greggs

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.