Royal Bank Of Canada Issues Positive Forecast for Greggs (LON:GRG) Stock Price

Key Points

• Royal Bank of Canada raised Greggs’ price target to GBX 1,960 from GBX 1,830 while maintaining a “sector perform” rating, implying roughly 3.87% upside from the reported price.
• Analyst sentiment remains mixed: three analysts rate Greggs “Buy,” four rate it “Hold,” and one rates it “Sell.” The consensus rating is “Hold,” with an average price target of GBX 1,881.43.
• Greggs shares fell GBX 145 to GBX 1,887 during Friday trading, while the company reported quarterly EPS of GBX 55.10 and analysts expect full-year EPS of approximately GBX 142.38.

Greggs (LON:GRG - Get Free Report) had its price target increased by Royal Bank Of Canada from GBX 1,830 to GBX 1,960 in a research report issued to clients and investors on Friday,London Stock Exchange reports. The firm presently has a "sector perform" rating on the stock. Royal Bank Of Canada's target price indicates a potential upside of 3.87% from the stock's current price.

Other research analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating and issued a GBX 1,330 target price on shares of Greggs in a research report on Thursday. UBS Group reissued a "buy" rating and issued a GBX 2,200 price target on shares of Greggs in a report on Monday, May 11th. Jefferies Financial Group restated a "hold" rating and issued a GBX 1,610 price objective on shares of Greggs in a research note on Wednesday. Berenberg Bank raised their price objective on shares of Greggs from GBX 2,090 to GBX 2,200 and gave the stock a "buy" rating in a report on Thursday. Finally, Shore Capital Group reaffirmed a "hold" rating on shares of Greggs in a report on Tuesday, May 12th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of GBX 1,881.43.

Greggs Stock Performance

Greggs stock traded down GBX 145 during trading hours on Friday, hitting GBX 1,887. The stock had a trading volume of 4,947,573 shares, compared to its average volume of 4,300,740. The company has a 50-day moving average of GBX 1,647.50 and a two-hundred day moving average of GBX 1,622.95. The company has a quick ratio of 0.88, a current ratio of 0.52 and a debt-to-equity ratio of 74.16. The company has a market cap of £1.92 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 3.39 and a beta of 1.15. Greggs has a fifty-two week low of GBX 1,407.20 and a fifty-two week high of GBX 2,046.

Greggs (LON:GRG - Get Free Report) last announced 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 research analysts anticipate that Greggs will post 142.3763386 EPS for the current fiscal year.

Insider Activity

In other news, insider Richard Smothers bought 1,615 shares of Greggs stock in a transaction dated Tuesday, May 19th. The shares were bought at an average price of GBX 17 per share, for a total transaction of £274.55. Insiders own 0.62% of the company's stock.

Trending Headlines about Greggs

Here are the key news stories impacting Greggs this week:

• Positive Sentiment: Greggs reported a 20% increase in first-half profit, with growth supported by its grocery business and continued gains in market share. The company’s value-focused pricing strategy appears to be attracting customers despite pressure on household budgets. UK's Greggs first-half profit up 20% as grocery business grows
• Positive Sentiment: Coverage highlighted higher profit and market-share gains, reinforcing the view that Greggs’ affordability strategy is delivering resilient demand. Greggs Reports Higher Profit and Market Share as Value Strategy Continues to Deliver
• Positive Sentiment: JPMorgan raised its price target from GBX 2,050 to GBX 2,210 and reiterated an “outperform” rating, while Berenberg increased its target from GBX 2,090 to GBX 2,200 and assigned a “buy” rating. These upgrades indicate greater confidence in Greggs’ earnings potential. Broker updates reported by Digital Look
• Positive Sentiment: Greggs’ sausage rolls are reportedly gaining traction in the Canary Islands, providing an early indication that international expansion could offer an additional growth opportunity. UK's Greggs finds appetite for sausage rolls in the Canary Islands
• Neutral Sentiment: Jefferies reiterated a “hold” rating, suggesting that the strong results and growth prospects may already be partly reflected in the share price. Jefferies reiterates Hold rating for Greggs
• Negative Sentiment: Deutsche Bank reaffirmed its “sell” rating and set a GBX 1,330 target, substantially below the current trading level. This bearish stance highlights concerns about valuation or the sustainability of recent growth. Deutsche Bank broker update reported by Digital Look

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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