Berenberg Bank Reaffirms “Buy” Rating for Greggs (LON:GRG)

Greggs (LON:GRG)‘s stock had its “buy” rating restated by research analysts at Berenberg Bank in a note issued to investors on Thursday,Digital Look reports. They presently have a GBX 2,090 target price on the stock. Berenberg Bank’s price target indicates a potential upside of 25.17% from the stock’s previous close.

GRG has been the subject of several other reports. Royal Bank Of Canada lowered their price objective on Greggs from GBX 1,970 to GBX 1,830 and set an “outperform” rating for the company in a report on Tuesday, March 10th. UBS Group reaffirmed 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 reiterated a “sell” rating and issued a GBX 1,330 price target on shares of Greggs in a report on Wednesday. Shore Capital Group restated a “hold” rating on shares of Greggs in a research note on Tuesday. Finally, Jefferies Financial Group reiterated a “hold” rating and set a GBX 1,610 target price on shares of Greggs in a research note on Tuesday. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Greggs currently has an average rating of “Hold” and an average target price of GBX 1,824.29.

Greggs Stock Down 2.2%

Shares of LON:GRG opened at GBX 1,669.72 on Thursday. The firm has a market cap of £1.70 billion, a PE ratio of 14.00, a price-to-earnings-growth ratio of 3.39 and a beta of 1.13. The company has a fifty day simple moving average of GBX 1,589.59 and a 200 day simple moving average of GBX 1,611.67. The company has a current ratio of 0.56, a quick ratio of 0.88 and a debt-to-equity ratio of 75.94. Greggs has a 12-month low of GBX 1,407.20 and a 12-month high of GBX 2,237.88.

Greggs (LON:GRG) last announced its quarterly earnings data on Wednesday, March 4th. The company reported GBX 120 earnings per share for the quarter. Greggs had a net margin of 5.68% and a return on equity of 20.47%. On average, equities research analysts anticipate that Greggs will post 142.3763386 EPS for the current fiscal year.

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.