Jefferies Financial Group Has Lowered Expectations for Greggs (LON:GRG) Stock Price

Greggs (LON:GRG) had its price target lowered by Jefferies Financial Group from GBX 2,650 to GBX 2,500 in a research report report published on Thursday, Marketbeat Ratings reports. The brokerage currently has a buy rating on the stock.

Several other research firms have also issued reports on GRG. Royal Bank Of Canada decreased their price target on shares of Greggs from GBX 2,350 to GBX 2,190 and set an “outperform” rating on the stock in a research report on Thursday. Shore Capital reiterated a “hold” rating on shares of Greggs in a research note on Wednesday. Berenberg Bank lifted their price target on Greggs from GBX 3,040 to GBX 3,060 and gave the company a “buy” rating in a report on Wednesday, July 30th. Peel Hunt restated a “hold” rating and set a GBX 1,660 target price on shares of Greggs in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reissued a “sell” rating and issued a GBX 1,330 price target on shares of Greggs in a research report on Wednesday, July 30th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of GBX 2,064.

Greggs Trading Up 1.3%

Shares of LON:GRG opened at GBX 1,676 on Thursday. Greggs has a fifty-two week low of GBX 1,499 and a fifty-two week high of GBX 2,956. The company has a quick ratio of 0.88, a current ratio of 0.80 and a debt-to-equity ratio of 66.19. The company has a market cap of £1.71 billion, a PE ratio of 1,187.81, a P/E/G ratio of 3.39 and a beta of 1.43. The company’s 50-day moving average price is GBX 1,599.41 and its 200 day moving average price is GBX 1,769.

Insider Buying and Selling

In other Greggs news, insider Matthew Davies acquired 1,249 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was acquired at an average cost of GBX 1,600 per share, for a total transaction of £19,984. Insiders own 0.56% of the company’s stock.

About Greggs

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.