Greggs (LON:GRG) Price Target Raised to GBX 2,200 at Berenberg Bank

Greggs (LON:GRG) had its target price lifted by research analysts at Berenberg Bank from GBX 2,090 to GBX 2,200 in a report issued on Thursday,Digital Look reports. The brokerage currently has a “buy” rating on the stock. Berenberg Bank’s price objective would suggest a potential upside of 8.13% from the stock’s previous close.

Several other analysts have also recently commented on the stock. Deutsche Bank Aktiengesellschaft restated a “sell” rating and issued a GBX 1,330 target price on shares of Greggs in a research note on Wednesday, May 13th. Shore Capital Group reissued a “hold” rating on shares of Greggs in a report on Tuesday, May 12th. Jefferies Financial Group restated a “hold” rating and issued a GBX 1,610 price objective on shares of Greggs in a research report on Wednesday. Finally, UBS Group reaffirmed a “buy” rating and issued a GBX 2,200 price objective on shares of Greggs in a report on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of GBX 1,840.

Greggs Price Performance

Greggs stock opened at GBX 2,034.52 on Thursday. Greggs has a 12 month low of GBX 1,407.20 and a 12 month high of GBX 2,036. The company has a debt-to-equity ratio of 75.94, a current ratio of 0.56 and a quick ratio of 0.88. The business has a 50 day simple moving average of GBX 1,641.42 and a 200-day simple moving average of GBX 1,620.23. The stock has a market capitalization of £2.07 billion, a PE ratio of 17.05, a price-to-earnings-growth ratio of 3.39 and a beta of 1.15.

Greggs (LON:GRG) last posted its quarterly earnings data on Wednesday, July 29th. The company reported GBX 55.10 earnings per share for the quarter. Greggs had a net margin of 5.68% and a return on equity of 20.47%. Equities analysts predict that Greggs will post 142.3763386 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Richard Smothers bought 1,615 shares of the firm’s stock in a transaction on Tuesday, May 19th. The shares were bought at an average cost of GBX 17 per share, for a total transaction of £274.55. Company insiders own 0.62% of the company’s stock.

Greggs Company Profile

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.