Greggs plc (LON:GRG) Given Average Rating of "Hold" by Brokerages

Key Points

• Greggs has an average “Hold” rating from eight analysts: one sell, four hold and three buy recommendations. The average 12-month price target is GBX 1,881.43.
• Recent broker views remain mixed: JPMorgan raised its target to GBX 2,210 with an outperform rating, while Deutsche Bank maintained a sell rating with a GBX 1,330 target; other targets range from GBX 1,610 to GBX 2,200.
• Greggs shares opened at GBX 1,838, with a market capitalization of approximately £1.87 billion. The company reported quarterly EPS of GBX 55.10, a 5.93% net margin and 20.97% return on equity.

Greggs plc (LON:GRG - Get Free Report) has been assigned an average rating of "Hold" from the eight analysts that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is GBX 1,881.43.

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on Greggs from GBX 2,050 to GBX 2,210 and gave the company an "outperform" rating in a research note on Thursday, July 30th. Jefferies Financial Group reissued a "hold" rating and set a GBX 1,610 target price on shares of Greggs in a research note on Wednesday, July 29th. Royal Bank Of Canada increased their price target on Greggs from GBX 1,830 to GBX 1,960 and gave the company a "sector perform" rating in a research report on Friday, July 31st. UBS Group reaffirmed a "buy" rating and issued a GBX 2,200 target price on shares of Greggs in a report on Monday, May 11th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "sell" rating and issued a GBX 1,330 price target on shares of Greggs in a research note on Thursday, July 30th.

Insider Buying and Selling at Greggs

In other news, insider Richard Hutton sold 3,069 shares of Greggs 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. Insiders own 0.62% of the company's stock.

Greggs Price Performance

Shares of GRG opened at GBX 1,838 on Friday. Greggs has a fifty-two week low of GBX 1,407.20 and a fifty-two week high of GBX 2,046. The firm's 50 day moving average price is GBX 1,701.18 and its 200 day moving average price is GBX 1,647.76. The company has a market cap of £1.87 billion, a P/E ratio of 14.26, a PEG ratio of 3.39 and a beta of 1.16. The company has a quick ratio of 0.88, a current ratio of 0.52 and a debt-to-equity ratio of 74.16.

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

About Greggs

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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