Royal Bank Of Canada Cuts Greggs (LON:GRG) Price Target to GBX 2,190

Greggs (LON:GRG) had its price target decreased by Royal Bank Of Canada from GBX 2,350 to GBX 2,190 in a report issued on Thursday, Marketbeat.com reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Several other equities analysts also recently weighed in on the company. Berenberg Bank raised their target price on Greggs from GBX 3,040 to GBX 3,060 and gave the company a “buy” rating in a research report on Wednesday, July 30th. Peel Hunt reiterated a “hold” rating and issued a GBX 1,660 price objective on shares of Greggs in a report on Wednesday. Shore Capital restated a “hold” rating on shares of Greggs in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft restated a “sell” rating and set a GBX 1,330 target price on shares of Greggs in a report on Wednesday, July 30th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Greggs presently has an average rating of “Hold” and a consensus price target of GBX 2,064.

Greggs Stock Up 1.3%

GRG opened at GBX 1,676 on Thursday. The company has a fifty day moving average of GBX 1,599.41 and a two-hundred day moving average of GBX 1,769. The company has a debt-to-equity ratio of 66.19, a quick ratio of 0.88 and a current ratio of 0.80. Greggs has a fifty-two week low of GBX 1,499 and a fifty-two week high of GBX 2,956. The stock has a market capitalization of £1.71 billion, a price-to-earnings ratio of 1,187.81, a PEG ratio of 3.39 and a beta of 1.43.

Insider Activity at Greggs

In related news, insider Matthew Davies bought 1,249 shares of the stock in a transaction dated Wednesday, August 20th. The stock was acquired at an average price of GBX 1,600 per share, for a total transaction of £19,984. 0.56% of the stock is currently owned by insiders.

Greggs Company Profile

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