Greggs (LON:GRG) Given Hold Rating at Shore Capital Group

Greggs (LON:GRG)‘s stock had its “hold” rating reaffirmed by investment analysts at Shore Capital Group in a report released on Wednesday, Digital Look reports. They presently have a GBX 1,910 target price on the stock. Shore Capital Group’s price target indicates a potential downside of 5.73% from the company’s current price.

A number of other research firms also recently commented on GRG. Berenberg Bank increased their price objective on shares of Greggs from GBX 2,090 to GBX 2,200 and gave the company a “buy” rating in a research note on Thursday, July 30th. Jefferies Financial Group upped their target price on shares of Greggs from GBX 1,610 to GBX 1,740 and gave the company a “hold” rating in a research note on Friday, August 28th. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating and set a GBX 1,330 price target on shares of Greggs in a research report on Thursday, July 30th. JPMorgan Chase & Co. lifted their price target on Greggs from GBX 2,050 to GBX 2,210 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Finally, Royal Bank Of Canada boosted their price objective on Greggs from GBX 1,830 to GBX 1,960 and gave the company a “sector perform” rating in a report on Friday, July 31st. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of GBX 1,962.86.

Greggs Stock Up 1.9%

Shares of GRG traded up GBX 38 during trading on Wednesday, reaching GBX 2,026. The company’s stock had a trading volume of 970,131 shares, compared to its average volume of 3,439,452. The company has a market cap of £2.07 billion, a price-to-earnings ratio of 15.72, 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. The company has a fifty day moving average of GBX 1,848.69 and a two-hundred day moving average of GBX 1,693.05. Greggs has a twelve month low of GBX 1,407.20 and a twelve month high of GBX 2,058.

Greggs (LON:GRG) last released its quarterly earnings results on Wednesday, July 29th. The company reported GBX 55.10 earnings per share for the quarter. Greggs had a net margin of 5.93% and a return on equity of 20.97%. On average, sell-side analysts predict that Greggs will post 142.3763386 EPS for the current fiscal year.

Insider Buying and Selling at Greggs

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

Greggs News Summary

Here are the key news stories impacting Greggs this week:

• Positive Sentiment: Greggs reported 7.7% third-quarter sales growth, reinforcing the view that customer demand remains resilient. The company also outlined a manufacturing restructuring plan, which could improve efficiency over time. Greggs Reports 7.7% Q3 Sales Growth and Proposes Manufacturing Restructuring
• Positive Sentiment: Analyst expectations have improved following the trading update. Berenberg raised its price target from GBX 2,200 to GBX 2,300 and maintained a buy rating, while other commentary describes the latest forecasts as more favorable. Q4 London Shares to Watch
• Positive Sentiment: Greggs’ fair-value assessment received a boost as analysts incorporated the strong Q3 performance and updated outlook, providing additional support for the stock. Greggs Stock Gets Fair Value Bump
• Neutral Sentiment: Shore Capital reaffirmed its hold rating, suggesting the improved trading momentum is broadly reflected in Greggs’ valuation after its strong share-price performance. Shore Capital Reaffirms Hold Rating
• Negative Sentiment: Deutsche Bank raised its target from GBX 1,330 to GBX 1,420 but retained a sell rating, indicating that it views the shares as overvalued despite the improved outlook. Analysts have also cited ongoing cost pressures as a reason for caution. Deutsche Bank Forecast for Greggs

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.