Greggs (LON:GRG) Price Target Raised to GBX 2,210

Greggs (LON:GRG) had its price target lifted by analysts at JPMorgan Chase & Co. from GBX 2,050 to GBX 2,210 in a report released on Thursday,Digital Look reports. The brokerage currently has an “outperform” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 10.37% from the company’s previous close.

Several other research analysts have also recently commented on the company. Shore Capital Group reissued a “hold” rating on shares of Greggs in a research report on Tuesday, May 12th. UBS Group reiterated a “buy” rating and set a GBX 2,200 price objective on shares of Greggs in a research note on Monday, May 11th. Jefferies Financial Group reiterated a “hold” rating and set a GBX 1,610 price objective on shares of Greggs in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reissued a “sell” rating and issued a GBX 1,330 price objective on shares of Greggs in a report on Wednesday, May 13th. Finally, Berenberg Bank boosted their target price on shares of Greggs from GBX 2,090 to GBX 2,200 and gave the stock a “buy” rating in a report on Thursday. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Greggs presently has an average rating of “Hold” and an average target price of GBX 1,862.86.

Greggs Trading Up 1.2%

Shares of LON:GRG opened at GBX 2,002.40 on Thursday. The company’s 50-day moving average price is GBX 1,641.42 and its two-hundred day moving average price is GBX 1,620.23. The company has a debt-to-equity ratio of 75.94, a current ratio of 0.56 and a quick ratio of 0.88. Greggs has a one year low of GBX 1,407.20 and a one year high of GBX 2,046. The stock has a market capitalization of £2.04 billion, a PE ratio of 16.78, a price-to-earnings-growth ratio of 3.39 and a beta of 1.15.

Greggs (LON:GRG) last posted its quarterly earnings data on Wednesday, July 29th. The company reported GBX 55.10 EPS for the quarter. Greggs had a net margin of 5.68% and a return on equity of 20.47%. On average, equities analysts forecast that Greggs will post 142.3763386 EPS for the current fiscal year.

Insiders Place Their Bets

In other Greggs news, insider Richard Smothers purchased 1,615 shares of the stock in a transaction on Tuesday, May 19th. The shares were purchased at an average price of GBX 17 per share, with a total value of £274.55. 0.62% of the stock is currently owned by company insiders.

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.