Greggs (LON:GRG) Hits New 12-Month High - What's Next?

Key Points

• Greggs shares reached a new 52-week high of GBX 2,058, closing well above the previous close at GBX 1,875 amid heavy trading volume.
• Analyst sentiment remains mixed: Berenberg and JPMorgan raised their targets and rated the stock a buy or outperform, while Deutsche Bank maintained a sell rating. The overall consensus is “Hold”, with an average target price of GBX 1,900.
• Greggs reported quarterly EPS of GBX 55.10, with a 20.97% return on equity and 5.93% net margin; an insider subsequently sold 3,069 shares worth about £59,109.

Greggs plc (LON:GRG - Get Free Report) reached a new 52-week high on Wednesday. The stock traded as high as GBX 2,058 and last traded at GBX 1,987.21, with a volume of 9139495 shares trading hands. The stock had previously closed at GBX 1,875.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Royal Bank Of Canada boosted their price target on Greggs from GBX 1,830 to GBX 1,960 and gave the stock a "sector perform" rating in a research report on Friday, July 31st. Berenberg Bank raised their price objective on Greggs from GBX 2,090 to GBX 2,200 and gave the company a "buy" rating in a research note on Thursday, July 30th. JPMorgan Chase & Co. boosted their target price on Greggs from GBX 2,050 to GBX 2,210 and gave the stock an "outperform" rating in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating and set a GBX 1,330 target price on shares of Greggs in a research report on Thursday, July 30th. Finally, Jefferies Financial Group increased their price target on Greggs from GBX 1,610 to GBX 1,740 and gave the company a "hold" rating in a report on Friday, August 28th. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Greggs has a consensus rating of "Hold" and an average target price of GBX 1,900.

Greggs Price Performance

The company has a debt-to-equity ratio of 74.16, a current ratio of 0.52 and a quick ratio of 0.88. The stock's fifty day simple moving average is GBX 1,823.54 and its 200-day simple moving average is GBX 1,685.89. The company has a market capitalization of £2.03 billion, a P/E ratio of 15.43, a PEG ratio of 3.39 and a beta of 1.16.

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 20.97% and a net margin of 5.93%. On average, equities analysts forecast that Greggs plc will post 142.3763386 earnings per share for the current fiscal year.

Insider Transactions at Greggs

In other Greggs news, insider Richard Hutton sold 3,069 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The stock was 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.

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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