Greggs (LON:GRG) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Shares of Greggs plc (LON:GRG) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 1,663.09 and traded as high as GBX 1,697. Greggs shares last traded at GBX 1,676, with a volume of 206,819 shares traded.

Analyst Ratings Changes

GRG has been the topic of several recent research reports. Berenberg Bank lowered their price target on shares of Greggs from GBX 3,060 to GBX 2,640 and set a “buy” rating on the stock in a research note on Thursday, October 2nd. Royal Bank Of Canada decreased their price objective on Greggs from GBX 2,350 to GBX 2,190 and set an “outperform” rating for the company in a report on Thursday, October 2nd. Peel Hunt reaffirmed a “hold” rating and issued a GBX 1,660 target price on shares of Greggs in a research report on Wednesday, October 1st. Shore Capital reissued a “hold” rating on shares of Greggs in a research report on Wednesday, October 1st. Finally, JPMorgan Chase & Co. began coverage on Greggs in a research note on Friday, December 5th. They issued an “overweight” rating and a GBX 2,110 price target for the company. Four research 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. According to data from MarketBeat.com, Greggs has an average rating of “Hold” and a consensus target price of GBX 2,071.67.

Greggs Stock Up 0.4%

The stock has a market cap of £1.71 billion, a P/E ratio of 11.93, a price-to-earnings-growth ratio of 3.39 and a beta of 1.43. The firm has a 50 day simple moving average of GBX 1,612.31 and a 200-day simple moving average of GBX 1,663.23. The company has a quick ratio of 0.88, a current ratio of 0.80 and a debt-to-equity ratio of 66.19.

Insider Transactions at Greggs

In other Greggs news, insider Richard Hutton sold 7,438 shares of Greggs stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of GBX 1,571, for a total transaction of £116,850.98. 0.57% of the stock is owned by corporate insiders.

Greggs Company Profile

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. Greggs also offers a healthier options range which includes a selection of gluten-free, vegan-friendly and lower calorie products.