Greggs (LON:GRG) Posts Earnings Results

Greggs (LON:GRG) posted its quarterly earnings results on Friday. The company reported GBX 45.60 earnings per share (EPS) for the quarter, Digital Look Earnings reports. Greggs had a return on equity of 26.79% and a net margin of 7.13%.

Greggs Stock Performance

Shares of LON GRG opened at GBX 1,655 on Friday. Greggs has a 12-month low of GBX 1,407.20 and a 12-month high of GBX 2,246. The company has a market cap of £1.69 billion, a PE ratio of 11.73, a P/E/G ratio of 3.39 and a beta of 1.43. The stock has a 50 day simple moving average of GBX 1,624.76 and a 200-day simple moving average of GBX 1,631.56. The company has a current ratio of 0.80, a quick ratio of 0.88 and a debt-to-equity ratio of 66.19.

Insiders Place Their Bets

In other news, insider Richard Hutton sold 7,438 shares of the stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of GBX 1,571, for a total value of £116,850.98. 0.57% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on GRG. Royal Bank Of Canada dropped their target price on shares of Greggs from GBX 2,350 to GBX 2,190 and set an “outperform” rating on the stock in a report on Thursday, October 2nd. Peel Hunt reiterated a “hold” rating and set a GBX 1,660 price objective on shares of Greggs in a research note on Wednesday, October 1st. Jefferies Financial Group cut their target price on shares of Greggs from GBX 2,650 to GBX 2,500 and set a “buy” rating on the stock in a report on Thursday, October 2nd. Shore Capital reaffirmed a “hold” rating on shares of Greggs in a report on Wednesday, October 1st. Finally, JPMorgan Chase & Co. initiated coverage on Greggs in a report on Friday, December 5th. They issued an “overweight” rating and a GBX 2,110 price target on the stock. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of GBX 1,993.33.

About Greggs

Greggs is a leading UK food-on-the-go retailer with more than 2,600 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.