Greggs (LON:GRG) Hits New 1-Year High - Should You Buy?

Key Points

• Greggs shares reached a new 52-week high, trading as high as GBX 2,058 and up 2.2% during the session, giving the company a market capitalization of approximately £2.10 billion.
• Analyst sentiment is mixed: the consensus rating is “Hold”, with an average price target of GBX 1,962.86. Targets range from GBX 1,420 from Deutsche Bank, which rates the stock “Sell,” to GBX 2,210 from JPMorgan, which rates it “Outperform.”
• Greggs reported quarterly EPS of GBX 55.10, with a 5.93% net margin and 20.97% return on equity. An insider subsequently sold 3,069 shares worth about £59,109, while insiders collectively own 0.63% of the company.

Greggs plc (LON:GRG - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday. The stock traded as high as GBX 2,058 and last traded at GBX 2,057.64, with a volume of 200961 shares. The stock had previously closed at GBX 2,016.

Analysts Set New Price Targets

A number of equities research analysts recently commented on GRG shares. JPMorgan Chase & Co. upped their price target on shares of Greggs from GBX 2,050 to GBX 2,210 and gave the company an "outperform" rating in a report on Thursday, July 30th. Royal Bank Of Canada raised their price target on shares of Greggs from GBX 1,830 to GBX 1,960 and gave the stock a "sector perform" rating in a report on Friday, July 31st. Jefferies Financial Group boosted their price objective on shares of Greggs from GBX 1,610 to GBX 1,740 and gave the company a "hold" rating in a research report on Friday, August 28th. Shore Capital Group reaffirmed a "hold" rating and set a GBX 1,910 price objective on shares of Greggs in a research note on Wednesday, September 30th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Greggs from GBX 1,330 to GBX 1,420 and gave the stock a "sell" rating in a report on Wednesday, September 30th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of GBX 1,962.86.

Greggs Trading Up 2.2%

The company has a quick ratio of 0.88, a current ratio of 0.52 and a debt-to-equity ratio of 74.16. The firm's fifty day moving average is GBX 1,856.31 and its two-hundred day moving average is GBX 1,696.55. The firm has a market cap of £2.10 billion, a P/E ratio of 15.98, a PEG ratio of 3.39 and a beta of 1.16.

Greggs (LON:GRG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported GBX 55.10 EPS for the quarter. Greggs had a net margin of 5.93% and a return on equity of 20.97%. Analysts predict that Greggs plc will post 142.3763386 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Greggs news, insider Richard Hutton sold 3,069 shares of the firm's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of GBX 1,926, for a total value of £59,108.94. 0.63% of the stock is owned by company insiders.

About Greggs

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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