Brokerages Set Greggs plc (LON:GRG) Price Target at GBX 1,775

Greggs plc (LON:GRG) has received an average recommendation of “Hold” from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is GBX 1,775.

A number of research firms recently commented on GRG. Jefferies Financial Group downgraded Greggs to a “hold” rating and decreased their target price for the stock from GBX 2,500 to GBX 1,610 in a report on Monday, February 9th. JPMorgan Chase & Co. reduced their price target on shares of Greggs from GBX 2,060 to GBX 2,050 and set an “overweight” rating for the company in a research report on Wednesday, March 4th. Royal Bank Of Canada decreased their price objective 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. Finally, Berenberg Bank dropped their price objective on shares of Greggs from GBX 2,640 to GBX 2,170 and set a “buy” rating on the stock in a report on Thursday, January 8th.

Greggs Stock Performance

Shares of GRG stock opened at GBX 1,547 on Thursday. The business has a fifty day moving average of GBX 1,605.02 and a 200 day moving average of GBX 1,618.84. Greggs has a 1 year low of GBX 1,407.20 and a 1 year high of GBX 2,237.88. 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 has a market capitalization of £1.58 billion, a price-to-earnings ratio of 10.96, a price-to-earnings-growth ratio of 3.39 and a beta of 1.28.

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

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.