Greggs (LON:GRG) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

Greggs plc (LON:GRG) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 1,622.05 and traded as high as GBX 1,638. Greggs shares last traded at GBX 1,596, with a volume of 446,145 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Jefferies Financial Group cut Greggs to a “hold” rating and dropped their price target for the company from GBX 2,500 to GBX 1,610 in a research report on Monday, February 9th. Berenberg Bank lowered their price objective on Greggs from GBX 2,640 to GBX 2,170 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Greggs in a research report on Friday, December 5th. They set an “overweight” rating and a GBX 2,110 target price for the company. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Greggs currently has an average rating of “Hold” and an average target price of GBX 1,845.

Greggs Stock Performance

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 has a market capitalization of £1.62 billion, a PE ratio of 11.28, a PEG ratio of 3.39 and a beta of 1.43. The company has a 50-day moving average price of GBX 1,655.21 and a two-hundred day moving average price of GBX 1,622.05.

Greggs (LON:GRG) last issued its earnings results on Friday, January 16th. The company reported GBX 45.60 EPS for the quarter. Greggs had a return on equity of 26.79% and a net margin of 7.13%. Analysts predict that Greggs plc will post 142.3763386 EPS for the current fiscal year.

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.