Jefferies Financial Group Has Lowered Expectations for Greggs (LON:GRG) Stock Price

Greggs (LON:GRG - Get Free Report) had its target price dropped by equities researchers at Jefferies Financial Group from GBX 2,650 to GBX 2,500 in a research report issued to clients and investors on Thursday,London Stock Exchange reports. The brokerage currently has a "buy" rating on the stock. Jefferies Financial Group's price target indicates a potential upside of 50.78% from the company's current price.

Other equities analysts have also issued reports about the stock. Royal Bank Of Canada reduced 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 report on Thursday. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating and issued a GBX 1,330 target price on shares of Greggs in a research note on Wednesday, July 30th. Peel Hunt reaffirmed a "hold" rating and issued a GBX 1,660 target price on shares of Greggs in a research note on Wednesday. Shore Capital reissued a "hold" rating on shares of Greggs in a research report on Wednesday. Finally, Berenberg Bank increased their price objective on shares of Greggs from GBX 3,040 to GBX 3,060 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of GBX 2,148.

Greggs Stock Performance

LON GRG opened at GBX 1,658 on Thursday. The stock has a market cap of £1.69 billion, a P/E ratio of 1,175.05, a PEG ratio of 3.39 and a beta of 1.43. Greggs has a twelve month low of GBX 1,499 and a twelve month high of GBX 2,956. The company has a quick ratio of 0.88, a current ratio of 0.80 and a debt-to-equity ratio of 66.19. The company's 50-day simple moving average is GBX 1,601.22 and its 200 day simple moving average is GBX 1,772.11.

Insiders Place Their Bets

In other Greggs news, insider Matthew Davies acquired 1,249 shares of the company's stock in a transaction on Wednesday, August 20th. The stock was acquired at an average price of GBX 1,600 per share, for a total transaction of £19,984. 0.56% of the stock is owned by company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.