Greggs (LON:GRG) Price Target Lowered to GBX 3,390 at Berenberg Bank

Greggs (LON:GRG) had its price target lowered by research analysts at Berenberg Bank from GBX 3,550 ($43.85) to GBX 3,390 ($41.87) in a report released on Thursday, Digital Look reports. The firm presently has a “buy” rating on the stock. Berenberg Bank’s price objective points to a potential upside of 25.28% from the company’s previous close.

Separately, Jefferies Financial Group restated a “buy” rating and issued a GBX 3,450 ($42.61) target price on shares of Greggs in a research note on Wednesday, March 20th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Greggs presently has an average rating of “Hold” and an average price target of GBX 3,035 ($37.49).

Greggs Price Performance

Shares of LON GRG opened at GBX 2,706 ($33.42) on Thursday. Greggs has a twelve month low of GBX 2,244 ($27.72) and a twelve month high of GBX 2,914 ($35.99). The stock’s 50 day moving average price is GBX 2,796.37 and its 200-day moving average price is GBX 2,626.42. The company has a market capitalization of £2.74 billion, a PE ratio of 1,946.76, a PEG ratio of 3.39 and a beta of 1.28. The company has a quick ratio of 0.88, a current ratio of 1.09 and a debt-to-equity ratio of 60.20.

Insider Buying and Selling at Greggs

In other Greggs news, insider Roisin Currie bought 65 shares of the stock in a transaction on Thursday, April 11th. The shares were acquired at an average price of GBX 2,766 ($34.17) per share, with a total value of £1,797.90 ($2,220.73). In other news, insider Richard Hutton sold 18,005 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of GBX 2,758 ($34.07), for a total value of £496,577.90 ($613,362.03). Also, insider Roisin Currie purchased 65 shares of the firm’s stock in a transaction dated Thursday, April 11th. The stock was purchased at an average cost of GBX 2,766 ($34.17) per share, for a total transaction of £1,797.90 ($2,220.73). Insiders own 5.88% of the company’s stock.

Greggs Company Profile

Greggs plc operates as a food-on-the-go retailer in the United Kingdom. It offers a range of fresh bakery products, sandwiches, and drinks. The company sells products to franchise and wholesale partners for sale in their own outlets. It is also involved in the property holding, non-trading, and trustee businesses.