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

Key Points

• Greggs plc (LON:GRG) has received a consensus recommendation of "Hold" from six research firms, with ratings ranging from one "sell" to three "buy" recommendations.
• The average 12-month target price among brokerages for Greggs is GBX 2,148, while recent targets from analysts have varied significantly, with Deutsche Bank setting a low target of GBX 1,330.
• Insider Matthew Davies recently purchased 1,249 shares of Greggs stock at an average cost of GBX 1,600 each, indicating insider confidence in the company's performance.

Shares of Greggs plc (LON:GRG - Get Free Report) have received a consensus recommendation of "Hold" from the six research firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is GBX 2,148.

GRG has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft reissued a "sell" rating and set a GBX 1,330 target price on shares of Greggs in a research note on Wednesday, July 30th. Jefferies Financial Group cut their target price on shares of Greggs from GBX 2,650 to GBX 2,500 and set a "buy" rating on the stock in a research note on Thursday. Royal Bank Of Canada cut their target price on shares of Greggs from GBX 2,350 to GBX 2,190 and set an "outperform" rating on the stock in a research note on Thursday. Shore Capital reaffirmed a "hold" rating on shares of Greggs in a research note on Wednesday. Finally, Peel Hunt reaffirmed a "hold" rating and issued a GBX 1,660 price target on shares of Greggs in a research note on Wednesday.

Insider Buying and Selling at Greggs

In related news, insider Matthew Davies purchased 1,249 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were acquired at an average cost of GBX 1,600 per share, with a total value of £19,984. Company insiders own 0.56% of the company's stock.

Greggs Price Performance

Shares of LON:GRG opened at GBX 1,656 on Thursday. The company's fifty day moving average is GBX 1,601.22 and its two-hundred day moving average is GBX 1,772.11. The company has a quick ratio of 0.88, a current ratio of 0.80 and a debt-to-equity ratio of 66.19. Greggs has a 12-month low of GBX 1,499 and a 12-month high of GBX 2,956. The company has a market cap of £1.69 billion, a P/E ratio of 1,173.64, a price-to-earnings-growth 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.

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