Greggs (LON:GRG) Sets New 52-Week High – Here’s What Happened

Greggs plc (LON:GRG) hit a new 52-week high during mid-day trading on Tuesday. The company traded as high as GBX 2,058 and last traded at GBX 2,057.64, with a volume of 200961 shares changing hands. The stock had previously closed at GBX 2,016.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Royal Bank Of Canada lifted their price target on shares of Greggs from GBX 1,830 to GBX 1,960 and gave the stock a “sector perform” rating in a report on Friday, July 31st. Jefferies Financial Group raised their target price on Greggs from GBX 1,610 to GBX 1,740 and gave the stock a “hold” rating in a research report on Friday, August 28th. Shore Capital Group reaffirmed a “hold” rating and set a GBX 1,910 target price on shares of Greggs in a report on Wednesday, September 30th. Deutsche Bank Aktiengesellschaft upped their price target on Greggs from GBX 1,330 to GBX 1,420 and gave the company a “sell” rating in a research report on Wednesday, September 30th. Finally, Berenberg Bank raised their price objective on Greggs from GBX 2,200 to GBX 2,300 and gave the stock a “buy” rating in a research report on Thursday, October 1st. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of GBX 1,962.86.

Greggs Stock Up 0.5%

The firm’s 50 day moving average price is GBX 1,864.83 and its two-hundred day moving average price is GBX 1,703.40. The company has a market cap of £2.13 billion, a P/E ratio of 16.20, a price-to-earnings-growth ratio of 3.39 and a beta of 1.16. The company has a debt-to-equity ratio of 74.16, a quick ratio of 0.88 and a current ratio of 0.52.

Greggs (LON:GRG) last announced 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 5.93% and a return on equity of 20.97%. Equities research analysts anticipate that Greggs plc will post 142.3763386 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Richard Hutton sold 3,069 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of GBX 1,926, for a total transaction of £59,108.94. Company insiders own 0.63% of the company’s stock.

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.