Greggs (LON:GRG) Stock Price Passes Above 200 Day Moving Average - Time to Sell?

Greggs plc (LON:GRG - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 1,634.75 and traded as high as GBX 1,935. Greggs shares last traded at GBX 1,918, with a volume of 355,218 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Greggs from GBX 2,050 to GBX 2,210 and gave the stock an "outperform" rating in a research report on Thursday, July 30th. Shore Capital Group reiterated a "hold" rating on shares of Greggs in a research report on Tuesday, May 12th. Jefferies Financial Group reissued a "hold" rating and set a GBX 1,610 price objective on shares of Greggs in a report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft restated a "sell" rating and set a GBX 1,330 target price on shares of Greggs in a research report on Thursday, July 30th. Finally, Berenberg Bank lifted their price target on shares of Greggs from GBX 2,090 to GBX 2,200 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Greggs presently has an average rating of "Hold" and a consensus price target of GBX 1,881.43.

Greggs Price Performance

The firm has a market capitalization of £1.96 billion, a price-to-earnings ratio of 14.88, a price-to-earnings-growth ratio of 3.39 and a beta of 1.15. The company has a debt-to-equity ratio of 74.16, a quick ratio of 0.88 and a current ratio of 0.52. The company has a 50-day moving average of GBX 1,670.73 and a 200-day moving average of GBX 1,634.75.

Greggs (LON:GRG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported GBX 55.10 earnings per share (EPS) for the quarter. Greggs had a net margin of 5.93% and a return on equity of 20.97%. As a group, research analysts anticipate that Greggs plc will post 142.3763386 EPS for the current fiscal year.

Insider Activity at Greggs

In related news, insider Richard Smothers bought 1,615 shares of Greggs stock in a transaction that occurred on Tuesday, May 19th. The stock was acquired at an average price of GBX 17 per share, with a total value of £274.55. Insiders own 0.62% of the company's stock.

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.

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