Shares of Greggs plc (LON:GRG – Get Free Report) shot up 8% during mid-day trading on Tuesday . The stock traded as high as GBX 1,644 and last traded at GBX 1,644. 1,343,545 shares traded hands during trading, a decline of 75% from the average session volume of 5,296,543 shares. The stock had previously closed at GBX 1,522.
Wall Street Analyst Weigh In
Several brokerages have issued reports on GRG. JPMorgan Chase & Co. dropped their price objective on Greggs from GBX 2,060 to GBX 2,050 and set an “overweight” rating on the stock in a report on Wednesday, March 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating and set a GBX 1,330 price objective on shares of Greggs in a report on Wednesday. UBS Group reaffirmed a “buy” rating and set a GBX 2,200 price objective on shares of Greggs in a report on Monday. Shore Capital Group reaffirmed a “hold” rating on shares of Greggs in a report on Tuesday. Finally, Berenberg Bank reaffirmed a “buy” rating and set a GBX 2,090 price objective on shares of Greggs in a report on Thursday. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of GBX 1,824.29.
Check Out Our Latest Research Report on GRG
Greggs Stock Performance
Greggs (LON:GRG – Get Free Report) last released its quarterly earnings results on Wednesday, March 4th. The company reported GBX 120 earnings per share (EPS) for the quarter. Greggs had a return on equity of 20.47% and a net margin of 5.68%. On average, equities analysts forecast that Greggs plc 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.
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