Greggs (LON:GRG) Sets New 1-Year High - Here's What Happened

Key Points

• Greggs shares reached a new 52-week high of GBX 2,164, last trading at GBX 2,154—up 1.6% from the prior close—with 603,333 shares changing hands.
• Analyst sentiment remains mixed: the consensus rating is “Hold”, with three Buy, three Hold, and one Sell rating. The average target price is GBX 1,962.86, below the current share price.
• Greggs reported quarterly EPS of GBX 55.10, with a 20.97% return on equity and a 5.93% net margin. Insider ownership is 0.63%, while insider Richard Hutton sold shares worth approximately £59,109 in August.

Shares of Greggs plc (LON:GRG - Get Free Report) hit a new 52-week high on Wednesday. The stock traded as high as GBX 2,164 and last traded at GBX 2,154, with a volume of 603,333 shares trading hands. The stock had previously closed at GBX 2,142.

Analyst Ratings Changes

A number of research firms recently issued reports on GRG. Deutsche Bank Aktiengesellschaft lifted their target price on Greggs from GBX 1,330 to GBX 1,420 and gave the stock a "sell" rating in a report on Wednesday, September 30th. Berenberg Bank upped their price target on shares of Greggs from GBX 2,200 to GBX 2,300 and gave the company a "buy" rating in a report on Thursday, October 1st. 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 objective on shares of Greggs from GBX 1,830 to GBX 1,960 and gave the company a "sector perform" rating in a research report on Friday, July 31st. Finally, Jefferies Financial Group raised 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. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of GBX 1,962.86.

Greggs Stock Up 1.6%

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 has a market capitalization of £2.22 billion, a P/E ratio of 16.88, a PEG ratio of 3.39 and a beta of 1.16. The stock's fifty day moving average is GBX 1,878.27 and its two-hundred day moving average is GBX 1,720.29.

Greggs (LON:GRG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported GBX 55.10 earnings per share (EPS) for the quarter. Greggs had a return on equity of 20.97% and a net margin of 5.93%. As a group, research analysts predict that Greggs plc will post 142.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Greggs

In related news, insider Richard Hutton sold 3,069 shares of Greggs stock in a transaction 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 currently owned by corporate 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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