Greggs plc (LON:GRG) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Analysts have a consensus “Hold” rating on Greggs, with four buys, three holds and one sell among eight covering brokerages. The average 12-month price target is GBX 1,824.29, versus an opening price of GBX 1,705.
• Recent broker views remain mixed: UBS and Berenberg maintained “buy” ratings with targets of GBX 2,200 and GBX 2,090, while Deutsche Bank reiterated a “sell” rating with a GBX 1,330 target.
• Greggs has a market capitalization of approximately £1.74 billion and trades at a price-to-earnings ratio of 14.29. Insider Richard Smothers recently purchased 1,615 shares, although corporate insiders own just 0.62% of the company.

Shares of Greggs plc (LON:GRG - Get Free Report) have received a consensus rating of "Hold" from the eight brokerages that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is GBX 1,824.29.

A number of research analysts recently issued reports on the company. Berenberg Bank reaffirmed a "buy" rating and issued a GBX 2,090 price target on shares of Greggs in a report on Thursday, May 14th. Shore Capital Group reissued a "hold" rating on shares of Greggs in a report on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft restated a "sell" rating and issued a GBX 1,330 price objective on shares of Greggs in a research report on Wednesday, May 13th. Jefferies Financial Group reaffirmed a "hold" rating and issued a GBX 1,610 target price on shares of Greggs in a research note on Tuesday, May 12th. Finally, UBS Group reiterated a "buy" rating and set a GBX 2,200 target price on shares of Greggs in a research report on Monday, May 11th.

Greggs Price Performance

LON:GRG opened at GBX 1,705 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.56 and a debt-to-equity ratio of 75.94. The firm has a market cap of £1.74 billion, a PE ratio of 14.29, a price-to-earnings-growth ratio of 3.39 and a beta of 1.15. Greggs has a 12 month low of GBX 1,407.20 and a 12 month high of GBX 1,842. The company's 50-day moving average price is GBX 1,635.24 and its two-hundred day moving average price is GBX 1,618.12.

Insiders Place Their Bets

In related news, insider Richard Smothers purchased 1,615 shares of the business's stock in a transaction dated Tuesday, May 19th. The shares were bought at an average price of GBX 17 per share, with a total value of £274.55. 0.62% of the stock is owned by corporate insiders.

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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