Royal Bank Of Canada Has Lowered Expectations for Greggs (LON:GRG) Stock Price

Key Points

• Royal Bank of Canada has reduced Greggs' price target from GBX 2,350 to GBX 2,190 while maintaining an "outperform" rating, indicating potential upside from the current stock price.
• Other analysts have varied perspectives: Berenberg Bank raised its price target to GBX 3,060 with a "buy" rating, while Deutsche Bank assigned a "sell" rating with a target of GBX 1,330.
• The current consensus rating for Greggs is "Hold," with an average price target of GBX 2,060, amidst recent trading volatility showing a year range between GBX 1,499 and GBX 2,956.

Greggs (LON:GRG - Get Free Report) had its price objective cut by stock analysts at Royal Bank Of Canada from GBX 2,350 to GBX 2,190 in a research report issued on Thursday,Digital Look reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's price target indicates a potential upside of 32.33% from the stock's previous close.

Other equities research analysts also recently issued reports about the company. Berenberg Bank boosted their price target on Greggs from GBX 3,040 to GBX 3,060 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Shore Capital restated a "hold" rating on shares of Greggs in a research note on Wednesday. Deutsche Bank Aktiengesellschaft restated a "sell" rating and set a GBX 1,330 price target on shares of Greggs in a research note on Wednesday, July 30th. Finally, Peel Hunt restated a "hold" rating and set a GBX 1,660 price target on shares of Greggs in a research note on Wednesday. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of GBX 2,060.

Greggs Price Performance

LON GRG opened at GBX 1,655 on Thursday. Greggs has a one year low of GBX 1,499 and a one year high of GBX 2,956. The stock has a 50-day moving average of GBX 1,601.22 and a 200 day moving average of GBX 1,772.11. The company has a market capitalization of £1.69 billion, a price-to-earnings ratio of 1,172.93, a PEG ratio of 3.39 and a beta of 1.43. The company has a debt-to-equity ratio of 66.19, a quick ratio of 0.88 and a current ratio of 0.80.

Insider Buying and Selling

In other news, insider Matthew Davies acquired 1,249 shares of the firm's stock in a transaction dated Wednesday, August 20th. The shares were acquired at an average cost of GBX 1,600 per share, with a total value of £19,984. Corporate insiders own 0.56% of the company's stock.

Greggs Company Profile

Greggs is a leading UK food-on-the-go retailer with more than 2,600 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.

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