Greggs (LON:GRG) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Greggs plc (LON:GRG) passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of GBX 1,681.65 and traded as high as GBX 1,815. Greggs shares last traded at GBX 1,789, with a volume of 139,645 shares.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GRG. Deutsche Bank Aktiengesellschaft reissued a “sell” rating and issued a GBX 1,330 price target on shares of Greggs in a research note on Thursday, July 30th. Berenberg Bank upped their price objective on Greggs from GBX 2,090 to GBX 2,200 and gave the stock a “buy” rating in a research report on Thursday, July 30th. JPMorgan Chase & Co. increased their price objective on Greggs from GBX 2,050 to GBX 2,210 and gave the stock an “outperform” rating in a report on Thursday, July 30th. Royal Bank Of Canada lifted their target price on Greggs from GBX 1,830 to GBX 1,960 and gave the company a “sector perform” rating in a research report on Friday, July 31st. Finally, Jefferies Financial Group lifted their target price on Greggs from GBX 1,610 to GBX 1,740 and gave the company a “hold” rating in a research report on Friday, August 28th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of GBX 1,900.

Greggs Trading Up 4.0%

The firm has a market cap of £1.90 billion, a P/E ratio of 14.44, a P/E/G ratio of 3.39 and a beta of 1.16. The business’s 50-day moving average is GBX 1,812.48 and its two-hundred day moving average is GBX 1,682.91. 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 issued its quarterly earnings results on Wednesday, July 29th. The company reported GBX 55.10 earnings per share (EPS) for the quarter. Greggs had a net margin of 5.93% and a return on equity of 20.97%. As a group, analysts predict that Greggs plc will post 142.3763386 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Richard Hutton sold 3,069 shares of Greggs stock in a transaction dated Friday, August 7th. The stock was sold at an average price of GBX 1,926, for a total value of £59,108.94. Corporate insiders own 0.63% of the company’s stock.

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.