Royal Bank Of Canada Increases Greggs (LON:GRG) Price Target to GBX 1,960

Greggs (LON:GRG) had its target price lifted by analysts at Royal Bank Of Canada from GBX 1,830 to GBX 1,960 in a note issued to investors on Friday,London Stock Exchange reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target indicates a potential upside of 3.87% from the company’s current price.

GRG has been the topic of several other research reports. UBS Group restated a “buy” rating and set a GBX 2,200 target price on shares of Greggs in a report on Monday, May 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating and issued a GBX 1,330 price target on shares of Greggs in a report on Thursday. Shore Capital Group reiterated a “hold” rating on shares of Greggs in a research report on Tuesday, May 12th. JPMorgan Chase & Co. increased their price objective on shares of Greggs from GBX 2,050 to GBX 2,210 and gave the stock an “outperform” rating in a report on Thursday. Finally, Berenberg Bank raised their price objective on shares of Greggs from GBX 2,090 to GBX 2,200 and gave the company a “buy” rating in a research report on Thursday. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Greggs has a consensus rating of “Hold” and a consensus price target of GBX 1,881.43.

Greggs Price Performance

Shares of GRG traded down GBX 145 on Friday, hitting GBX 1,887. The company’s stock had a trading volume of 4,947,573 shares, compared to its average volume of 4,300,740. The company has a market capitalization of £1.92 billion, a PE ratio of 15.82, a PEG ratio of 3.39 and a beta of 1.15. Greggs has a fifty-two week low of GBX 1,407.20 and a fifty-two week high of GBX 2,046. The company has a 50 day moving average price of GBX 1,647.50 and a 200 day moving average price of GBX 1,622.95. The company has a debt-to-equity ratio of 74.16, a current ratio of 0.52 and a quick ratio of 0.88.

Greggs (LON:GRG) last released its quarterly earnings results on Wednesday, July 29th. The company reported GBX 55.10 earnings per share for the quarter. Greggs had a return on equity of 20.97% and a net margin of 5.93%. On average, research analysts anticipate that Greggs will post 142.3763386 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Richard Smothers bought 1,615 shares of the stock in a transaction dated Tuesday, May 19th. The stock was bought at an average cost of GBX 17 per share, with a total value of £274.55. Insiders own 0.62% of the company’s stock.

Trending Headlines about Greggs

Here are the key news stories impacting Greggs this week:

• Positive Sentiment: Greggs reported a 20% increase in first-half profit, with growth supported by its grocery business and continued gains in market share. The company’s value-focused pricing strategy appears to be attracting customers despite pressure on household budgets. UK’s Greggs first-half profit up 20% as grocery business grows
• Positive Sentiment: Coverage highlighted higher profit and market-share gains, reinforcing the view that Greggs’ affordability strategy is delivering resilient demand. Greggs Reports Higher Profit and Market Share as Value Strategy Continues to Deliver
• Positive Sentiment: JPMorgan raised its price target from GBX 2,050 to GBX 2,210 and reiterated an “outperform” rating, while Berenberg increased its target from GBX 2,090 to GBX 2,200 and assigned a “buy” rating. These upgrades indicate greater confidence in Greggs’ earnings potential. Broker updates reported by Digital Look
• Positive Sentiment: Greggs’ sausage rolls are reportedly gaining traction in the Canary Islands, providing an early indication that international expansion could offer an additional growth opportunity. UK’s Greggs finds appetite for sausage rolls in the Canary Islands
• Neutral Sentiment: Jefferies reiterated a “hold” rating, suggesting that the strong results and growth prospects may already be partly reflected in the share price. Jefferies reiterates Hold rating for Greggs
• Negative Sentiment: Deutsche Bank reaffirmed its “sell” rating and set a GBX 1,330 target, substantially below the current trading level. This bearish stance highlights concerns about valuation or the sustainability of recent growth. Deutsche Bank broker update reported by Digital Look

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.