Greggs (LON:GRG) Trading 8% Higher – Here’s What Happened

Shares of Greggs plc (LON:GRG) rose 8% on Tuesday . The stock traded as high as GBX 1,644 and last traded at GBX 1,644. Approximately 1,343,545 shares changed hands during trading, a decline of 75% from the average daily volume of 5,296,543 shares. The stock had previously closed at GBX 1,522.

Wall Street Analyst Weigh In

GRG has been the subject of a number of recent research reports. Jefferies Financial Group restated a “hold” rating and set a GBX 1,610 price objective on shares of Greggs in a research note on Tuesday. JPMorgan Chase & Co. cut their target price on shares of Greggs from GBX 2,060 to GBX 2,050 and set an “overweight” rating for the company in a research note on Wednesday, March 4th. Royal Bank Of Canada cut their target price on shares of Greggs from GBX 1,970 to GBX 1,830 and set an “outperform” rating for the company in a research note on Tuesday, March 10th. UBS Group reiterated a “buy” rating and issued a GBX 2,200 target price on shares of Greggs in a research note on Monday. Finally, Shore Capital Group reiterated a “hold” rating on shares of Greggs in a research note on Tuesday. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of GBX 1,835.71.

Greggs Trading Up 8.0%

The firm has a market capitalization of £1.68 billion, a price-to-earnings ratio of 13.78, a P/E/G ratio of 3.39 and a beta of 1.13. 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 firm’s 50-day simple moving average is GBX 1,584.97 and its 200 day simple moving average is GBX 1,611.67.

Greggs (LON:GRG) last announced its quarterly earnings data on Wednesday, March 4th. The company reported GBX 120 EPS for the quarter. Greggs had a net margin of 5.68% and a return on equity of 20.47%. Equities analysts expect that Greggs plc will post 142.3763386 earnings per share for the current year.

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.