UBS Group Reaffirms Buy Rating for Greggs (LON:GRG)

Key Points

• UBS Group reaffirmed a Buy rating on Greggs and kept a GBX 2,200 target price, implying about 46.5% upside from the prior close.
• Other analysts are more mixed: JPMorgan and RBC trimmed their price targets but kept positive ratings, while Jefferies maintained a Hold. Overall, MarketBeat shows a consensus rating of Hold with an average target of GBX 1,835.71.
• Greggs shares opened at GBX 1,501.64 and the company recently reported GBX 120 EPS for the quarter. Analysts expect full-year EPS of about 142.38, and the stock sits below its 52-week high of GBX 2,237.88.

Greggs (LON:GRG - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at UBS Group in a research note issued on Monday,Digital Look reports. They currently have a GBX 2,200 target price on the stock. UBS Group's price target would indicate a potential upside of 46.51% from the company's previous close.

GRG has been the subject of a number of other reports. JPMorgan Chase & Co. cut their price target on Greggs from GBX 2,060 to GBX 2,050 and set an "overweight" rating for the company in a report on Wednesday, March 4th. Royal Bank Of Canada cut their target price on shares of Greggs from GBX 1,970 to GBX 1,830 and set an "outperform" rating for the company in a research note on Tuesday, March 10th. Finally, Jefferies Financial Group restated a "hold" rating and issued a GBX 1,610 price target on shares of Greggs in a research report on Tuesday, April 14th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of GBX 1,835.71.

Greggs Stock Up 0.4%

GRG stock opened at GBX 1,501.64 on Monday. The stock has a market capitalization of £1.53 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 3.39 and a beta of 1.13. The company has a 50-day moving average of GBX 1,587.10 and a two-hundred day moving average of GBX 1,614.15. Greggs has a 52-week low of GBX 1,407.20 and a 52-week high of GBX 2,237.88. The company has a debt-to-equity ratio of 75.94, a current ratio of 0.56 and a quick ratio of 0.88.

Greggs (LON:GRG - Get Free Report) last posted its quarterly earnings data on Wednesday, March 4th. The company reported GBX 120 EPS for the quarter. Greggs had a return on equity of 20.47% and a net margin of 5.68%. As a group, equities research analysts anticipate that Greggs will post 142.3763386 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.