Greggs (LON:GRG) Sets New 1-Year High – Here’s What Happened

Greggs plc (LON:GRG – Get Free Report) reached a new 52-week high during mid-day trading on Wednesday. The stock traded as high as GBX 2,164 and last traded at GBX 2,154, with a volume of 603,333 shares. The stock had previously closed at GBX 2,142.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Royal Bank Of Canada upped their price objective 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. Jefferies Financial Group lifted their target price 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 lifted their target price on shares of Greggs from GBX 2,200 to GBX 2,300 and gave the stock a “buy” rating in a research report on Thursday, October 1st. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Greggs from GBX 1,330 to GBX 1,420 and gave the company a “sell” rating in a report on Wednesday, September 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Greggs from GBX 2,050 to GBX 2,210 and gave the company an “outperform” rating in a report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Greggs has an average rating of “Hold” and a consensus target price of GBX 1,962.86.

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Greggs Stock Performance

The firm’s 50 day simple moving average is GBX 1,878.27 and its 200-day simple moving average is GBX 1,720.29. The company has a market capitalization of £2.22 billion, a price-to-earnings ratio of 16.88, a P/E/G ratio of 3.39 and a beta of 1.16. The company has a debt-to-equity ratio of 74.16, a quick ratio of 0.88 and a current ratio of 0.52.

Greggs (LON:GRG – Get Free Report) last issued its earnings results 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%. Analysts expect that Greggs plc will post 142.38 EPS for the current year.

Insiders Place Their Bets

In related news, insider Richard Hutton sold 3,069 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of GBX 1,926, for a total transaction of £59,108.94. Insiders own 0.63% of the company’s stock.

About Greggs

(Get Free Report)

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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