Greggs (LON:GRG) Shares Break Above 200 Day Moving Average - Here's Why

Key Points

• Greggs shares crossed above their 200-day moving average, reaching GBX 1,815 before last trading at GBX 1,789, despite being down 0.3% overall.
• Analyst sentiment remains mixed: Greggs has a consensus “Hold” rating 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, with a 5.93% net margin and 20.97% return on equity; insider ownership stands at 0.63% after an executive sold shares worth about £59,109.

Greggs plc (LON:GRG - Get Free Report) crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of GBX 1,681.65 and traded as high as GBX 1,815. Greggs shares last traded at GBX 1,789, with a volume of 139,645 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GRG. Deutsche Bank Aktiengesellschaft restated a "sell" rating and issued a GBX 1,330 price target on shares of Greggs in a research report on Thursday, July 30th. JPMorgan Chase & Co. raised their target price on shares of Greggs from GBX 2,050 to GBX 2,210 and gave the stock an "outperform" rating in a research note on Thursday, July 30th. Jefferies Financial Group upped their price target 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. Berenberg Bank increased their price objective on shares of Greggs from GBX 2,090 to GBX 2,200 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Finally, Royal Bank Of Canada lifted their target price on shares of Greggs from GBX 1,830 to GBX 1,960 and gave the company a "sector perform" rating in a research note on Friday, July 31st. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Greggs presently has a consensus rating of "Hold" and an average target price of GBX 1,900.

Greggs Stock Down 0.3%

The company has a current ratio of 0.52, a quick ratio of 0.88 and a debt-to-equity ratio of 74.16. The company has a 50 day simple moving average of GBX 1,806.93 and a two-hundred day simple moving average of GBX 1,681.65. The firm has a market capitalization of £1.82 billion, a P/E ratio of 13.88, a P/E/G ratio of 3.39 and a beta of 1.16.

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

Insider Buying and Selling

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