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

Key Points

• Consensus "Hold": Seven analysts give Greggs a consensus rating of Hold (1 sell, 3 hold, 3 buy) with an average 12‑month price target of GBX 1,775 versus the recent open price of GBX 1,515.
• Analysts trimming targets: Major brokers have cut targets recently — Jefferies downgraded to Hold and cut its target to GBX 1,610, while JPMorgan, RBC and Berenberg also lowered targets (to GBX 2,050, 1,830 and 2,170 respectively).
• Solid underlying metrics: Greggs has a market cap of £1.54bn, a PE of 10.74, reported GBX 120 EPS for the quarter, and a return on equity of 20.47%, suggesting profitability despite mixed analyst views.

Shares of Greggs plc (LON:GRG - Get Free Report) have been assigned a consensus recommendation of "Hold" from the seven analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is GBX 1,775.

GRG has been the topic of a number of research analyst reports. Jefferies Financial Group downgraded Greggs to a "hold" rating and reduced their target price for the company from GBX 2,500 to GBX 1,610 in a report on Monday, February 9th. JPMorgan Chase & Co. dropped their price objective on Greggs from GBX 2,060 to GBX 2,050 and set an "overweight" rating for the company in a research report on Wednesday, March 4th. Royal Bank Of Canada reduced their price objective on Greggs from GBX 1,970 to GBX 1,830 and set an "outperform" rating on the stock in a research note on Tuesday, March 10th. Finally, Berenberg Bank decreased their target price on Greggs from GBX 2,640 to GBX 2,170 and set a "buy" rating on the stock in a research report on Thursday, January 8th.

Greggs Stock Performance

Shares of Greggs stock opened at GBX 1,515 on Thursday. The company has a current ratio of 0.56, a quick ratio of 0.88 and a debt-to-equity ratio of 75.94. The company has a market cap of £1.54 billion, a PE ratio of 10.74, a price-to-earnings-growth ratio of 3.39 and a beta of 1.28. The company has a 50 day moving average of GBX 1,619.04 and a 200-day moving average of GBX 1,622.19. Greggs has a 1-year low of GBX 1,407.20 and a 1-year high of GBX 2,237.88.

Greggs (LON:GRG - Get Free Report) last announced its quarterly earnings data on Wednesday, March 4th. The company reported GBX 120 earnings per share (EPS) for the quarter. Greggs had a net margin of 5.68% and a return on equity of 20.47%. As a group, equities research analysts forecast that Greggs will post 142.3763386 earnings per share for the current fiscal year.

Greggs Company Profile

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. Greggs also offers a healthier options range which includes a selection of gluten-free, vegan-friendly and lower calorie products.

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