Greggs (LON:GRG) Trading Down 15.5% - Should You Sell?

Greggs plc (LON:GRG - Get Free Report) shares fell 15.5% during mid-day trading on Wednesday . The company traded as low as GBX 1,656 ($22.76) and last traded at GBX 1,669 ($22.94). 7,342,039 shares changed hands during mid-day trading, an increase of 478% from the average session volume of 1,271,293 shares. The stock had previously closed at GBX 1,975 ($27.14).

Wall Street Analyst Weigh In

A number of analysts have weighed in on GRG shares. Shore Capital reissued a "buy" rating on shares of Greggs in a report on Tuesday, May 20th. Berenberg Bank reiterated a "buy" rating and set a GBX 3,250 ($44.66) price target on shares of Greggs in a research note on Wednesday, May 21st.

Greggs Stock Down 15.2%

The company has a market capitalization of £1.69 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 3.39 and a beta of 1.43. The firm's 50-day simple moving average is GBX 1,951.10 and its two-hundred day simple moving average is GBX 2,060.45. The company has a debt-to-equity ratio of 66.19, a current ratio of 0.80 and a quick ratio of 0.88.

Insider Buying and Selling at Greggs

In other Greggs news, insider Roisin Currie purchased 64 shares of the stock in a transaction dated Saturday, June 14th. The shares were acquired at an average cost of GBX 2,791 ($38.35) per share, for a total transaction of £1,786.24 ($2,454.64). 5.89% of the stock is currently owned by corporate insiders.

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.