Greggs (LON:GRG) Price Target Raised to GBX 2,210

Greggs (LON:GRG) had its target price increased by JPMorgan Chase & Co. from GBX 2,050 to GBX 2,210 in a research report released on Thursday morning,Digital Look reports. The brokerage currently has an outperform rating on the stock.

Several other equities research analysts have also recently weighed in on the company. Shore Capital Group reiterated a “hold” rating on shares of Greggs in a report on Tuesday, May 12th. Jefferies Financial Group reissued a “hold” rating and set a GBX 1,610 target price on shares of Greggs in a research note on Wednesday. Deutsche Bank Aktiengesellschaft restated a “sell” rating and set a GBX 1,330 target price on shares of Greggs in a report on Wednesday, May 13th. UBS Group reaffirmed a “buy” rating and issued a GBX 2,200 price target on shares of Greggs in a research note on Monday, May 11th. Finally, Berenberg Bank lifted their price target on shares of Greggs from GBX 2,090 to GBX 2,200 and gave the company a “buy” rating in a report on Thursday. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of GBX 1,881.43.

Greggs Stock Performance

Greggs stock opened at GBX 1,880 on Thursday. The company has a current ratio of 0.52, a quick ratio of 0.88 and a debt-to-equity ratio of 74.16. The firm has a market cap of £1.92 billion, a P/E ratio of 15.76, a P/E/G ratio of 3.39 and a beta of 1.15. Greggs has a 1-year low of GBX 1,407.20 and a 1-year high of GBX 2,046. The firm has a 50-day moving average of GBX 1,650.54 and a 200-day moving average of GBX 1,624.75.

Greggs (LON:GRG) last announced its quarterly earnings results on Wednesday, July 29th. The company reported GBX 55.10 earnings per share (EPS) for the quarter. Greggs had a return on equity of 20.97% and a net margin of 5.93%. Sell-side analysts expect that Greggs will post 142.3763386 EPS for the current year.

Insider Transactions at Greggs

In related news, insider Richard Smothers purchased 1,615 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was bought at an average cost of GBX 17 per share, with a total value of £274.55. 0.62% of the stock is currently owned by insiders.

Key Stories Impacting Greggs

Here are the key news stories impacting Greggs this week:

• Positive Sentiment: Strong first-half results: Greggs reported a 20% increase in first-half profit, with growth in its grocery business and continued market-share gains. The company’s value strategy is helping maintain customer demand despite pressure on household budgets. UK’s Greggs first-half profit up 20% as grocery business grows
• Positive Sentiment: Positive broker revisions: Berenberg raised its price target from GBX 2,090 to GBX 2,200 and upgraded Greggs to “buy.” JPMorgan also increased its target from GBX 2,050 to GBX 2,210 and maintained an “outperform” stance. These revisions reinforce the bullish reaction to the trading update. Broker views
• Positive Sentiment: International growth opportunity: Reports that Greggs is finding demand for its products, including sausage rolls, in the Canary Islands highlight potential for expansion beyond its core UK estate. UK’s Greggs finds appetite for sausage rolls in the Canary Islands
• Neutral Sentiment: Mixed analyst consensus: Royal Bank of Canada raised its target from GBX 1,830 to GBX 1,960 but retained a “sector perform” rating. Jefferies likewise reiterated its “hold” recommendation, indicating that valuation or execution risks may limit near-term upside. Broker views
• Negative Sentiment: Bearish counterpoint: Deutsche Bank reaffirmed its “sell” rating and assigned a GBX 1,330 target, substantially below recent trading levels. This signals concern that the strong results and rally may already be reflected in the share price. Deutsche Bank broker view

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.