Greggs (LON:GRG) Price Target Raised to GBX 3,600 at Berenberg Bank

Greggs (LON:GRG) had its price target hoisted by equities research analysts at Berenberg Bank from GBX 3,340 ($42.96) to GBX 3,600 ($46.31) in a research note issued on Wednesday, Digital Look reports. The brokerage presently has a “buy” rating on the stock. Berenberg Bank’s price objective would suggest a potential upside of 13.78% from the stock’s current price.

Several other brokerages have also recently weighed in on GRG. Royal Bank of Canada restated an “overweight” rating and set a GBX 3,335 ($42.90) price objective on shares of Greggs in a research note on Wednesday, May 15th. Shore Capital restated a “house stock” rating on shares of Greggs in a research note on Tuesday, May 14th.

Greggs Stock Performance

Shares of GRG stock opened at GBX 3,164 ($40.70) on Wednesday. The company has a market cap of £3.21 billion, a price-to-earnings ratio of 2,276.26, a price-to-earnings-growth ratio of 3.39 and a beta of 1.30. Greggs has a 52 week low of GBX 2,244 ($28.87) and a 52 week high of GBX 3,194 ($41.09). The company has a quick ratio of 0.88, a current ratio of 1.09 and a debt-to-equity ratio of 60.20. The firm has a 50 day moving average of GBX 2,869.13 and a 200-day moving average of GBX 2,797.98.

Insider Buying and Selling at Greggs

In other Greggs news, insider Roisin Currie purchased 75 shares of Greggs stock in a transaction on Thursday, June 6th. The shares were acquired at an average cost of GBX 1,672 ($21.51) per share, for a total transaction of £1,254 ($1,613.07). Company insiders own 5.80% of the company’s stock.

Greggs Company Profile

Greggs plc operates as a food-on-the-go retailer in the United Kingdom. It offers a range of fresh bakery products, sandwiches, and drinks. The company sells products to franchise and wholesale partners for sale in their own outlets. It is also involved in the property holding, non-trading, and trustee businesses.