Greggs (LON:GRG) Earns “Hold” Rating from Shore Capital

Shore Capital restated their hold rating on shares of Greggs (LON:GRG) in a research note issued to investors on Wednesday, Marketbeat Ratings reports.

A number of other brokerages also recently commented on GRG. Peel Hunt reissued a “hold” rating and issued a GBX 1,660 price objective on shares of Greggs in a research report on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft reissued a “sell” rating and issued a GBX 1,330 price objective on shares of Greggs in a research report on Wednesday, July 30th. Finally, Berenberg Bank increased their price objective on shares of Greggs from GBX 3,040 to GBX 3,060 and gave the company a “buy” rating in a research report on Wednesday, July 30th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of GBX 2,064.

Greggs Price Performance

Greggs stock opened at GBX 1,676 on Wednesday. The firm has a market cap of £1.71 billion, a PE ratio of 1,187.81, a price-to-earnings-growth ratio of 3.39 and a beta of 1.43. Greggs has a 52-week low of GBX 1,499 and a 52-week high of GBX 2,956. The company has a quick ratio of 0.88, a current ratio of 0.80 and a debt-to-equity ratio of 66.19. The company’s 50 day moving average is GBX 1,599.41 and its two-hundred day moving average is GBX 1,769.46.

Insider Activity at Greggs

In related news, insider Matthew Davies bought 1,249 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The shares were purchased at an average cost of GBX 1,600 per share, with a total value of £19,984. 0.56% of the stock is owned by company insiders.

About Greggs

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.