Jefferies Financial Group Reaffirms "Hold" Rating for Greggs (LON:GRG)

Key Points

• Jefferies reaffirmed a “Hold” rating on Greggs with a GBX 1,610 price target, implying roughly 15% downside from the current share price.
• Analyst sentiment is mixed, with four Buy, three Hold and one Sell ratings; the consensus remains “Hold” with an average target of GBX 1,824.29.
• Greggs shares were up 12.1%, opening at GBX 1,894, near their 12-month high of GBX 1,899. The company reported quarterly EPS of GBX 55.10 and has a market capitalization of approximately £1.93 billion.

Greggs (LON:GRG - Get Free Report)'s stock had its "hold" rating restated by analysts at Jefferies Financial Group in a report released on Wednesday,Digital Look reports. They presently have a GBX 1,610 target price on the stock. Jefferies Financial Group's target price indicates a potential downside of 14.99% from the stock's current price.

Other analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating and issued a GBX 1,330 price target on shares of Greggs in a research note on Wednesday, May 13th. Berenberg Bank restated a "buy" rating and issued a GBX 2,090 price objective on shares of Greggs in a report on Thursday, May 14th. Shore Capital Group reaffirmed a "hold" rating on shares of Greggs in a research note on Tuesday, May 12th. Finally, UBS Group reaffirmed a "buy" rating and set a GBX 2,200 target price on shares of Greggs in a report on Monday, May 11th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of GBX 1,824.29.

Greggs Stock Up 12.1%

GRG opened at GBX 1,894 on Wednesday. The company has a market cap of £1.93 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 3.39 and a beta of 1.15. Greggs has a twelve month low of GBX 1,407.20 and a twelve month high of GBX 1,899. The company has a 50-day moving average price of GBX 1,635.24 and a 200 day moving average price of GBX 1,618.12. The company has a quick ratio of 0.88, a current ratio of 0.56 and a debt-to-equity ratio of 75.94.

Greggs (LON:GRG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported GBX 55.10 EPS for the quarter. Greggs had a return on equity of 20.47% and a net margin of 5.68%. Sell-side analysts expect that Greggs will post 142.3763386 earnings per share for the current fiscal year.

Insider Buying and Selling at Greggs

In related news, insider Richard Smothers bought 1,615 shares of the stock in a transaction dated Tuesday, May 19th. The shares were acquired at an average cost of GBX 17 per share, for a total transaction of £274.55. 0.62% of the stock is currently 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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