Greggs (LON:GRG) Share Price Passes Above 200-Day Moving Average - Should You Sell?

Key Points

• Greggs shares crossed above their 200-day moving average, reaching GBX 1,876 and closing at GBX 1,865, compared with the 200-day average of GBX 1,663.17.
• Analyst sentiment is mixed: Greggs has an average rating of “Hold” and an average price target of GBX 1,900, with targets ranging from GBX 1,330 to GBX 2,210.
• The company reported quarterly EPS of GBX 55.10, while an insider sold £59,108.94 worth of shares; insiders own 0.62% of Greggs.

Greggs plc (LON:GRG - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 1,663.17 and traded as high as GBX 1,876. Greggs shares last traded at GBX 1,865, with a volume of 325,067 shares.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Royal Bank Of Canada boosted 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 report on Friday, July 31st. Deutsche Bank Aktiengesellschaft reissued a "sell" rating and issued a GBX 1,330 price target on shares of Greggs in a research note on Thursday, July 30th. Jefferies Financial Group increased their price objective on shares of Greggs from GBX 1,610 to GBX 1,740 and gave the stock a "hold" rating in a research report on Friday, August 28th. UBS Group reiterated a "buy" rating and issued a GBX 2,200 target price on shares of Greggs in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. increased their target price on Greggs from GBX 2,050 to GBX 2,210 and gave the stock an "outperform" rating in a research note on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Greggs currently has an average rating of "Hold" and an average target price of GBX 1,900.

Greggs Price Performance

The firm has a market capitalization of £1.90 billion, a price-to-earnings ratio of 14.47, a price-to-earnings-growth ratio of 3.39 and a beta of 1.16. The stock's fifty day moving average price is GBX 1,745.39 and its two-hundred day moving average price is GBX 1,663.17. The company has a current ratio of 0.52, a quick ratio of 0.88 and a debt-to-equity ratio of 74.16.

Greggs (LON:GRG - Get Free Report) last posted its earnings results 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%. Equities research analysts expect that Greggs plc will post 142.3763386 EPS for the current year.

Insider Activity at Greggs

In other news, insider Richard Hutton sold 3,069 shares of the firm's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of GBX 1,926, for a total transaction of £59,108.94. Insiders own 0.62% of the company's stock.

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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