Greggs (LON:GRG) Sets New 1-Year High – What’s Next?

Greggs plc (LON:GRG) hit a new 52-week high on Monday. The stock traded as high as GBX 2,388 and last traded at GBX 2,388, with a volume of 199,031 shares changing hands. The stock had previously closed at GBX 2,294.

Analysts Set New Price Targets

Several brokerages have commented on GRG. Shore Capital Group reaffirmed a “hold” rating and issued a GBX 1,910 target price on shares of Greggs in a research note on Wednesday, September 30th. Berenberg Bank increased their target price on Greggs from GBX 2,200 to GBX 2,300 and gave the stock a “buy” rating in a report on Thursday, October 1st. Deutsche Bank Aktiengesellschaft increased their price objective on Greggs from GBX 1,330 to GBX 1,420 and gave the stock a “sell” rating in a report on Wednesday, September 30th. Royal Bank Of Canada increased their price target 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, JPMorgan Chase & Co. raised their price objective on Greggs from GBX 2,050 to GBX 2,210 and gave the company an “outperform” rating in a research report on Thursday, July 30th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of GBX 1,962.86.

Greggs Price Performance

The company’s 50 day moving average is GBX 1,990.87 and its 200 day moving average is GBX 1,733.46. The firm has a market capitalization of £2.42 billion, a price-to-earnings ratio of 18.42, a P/E/G ratio of 3.39 and a beta of 1.16. The company has a quick ratio of 0.88, a current ratio of 0.52 and a debt-to-equity ratio of 74.16.

Insider Activity at Greggs

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