Greggs (LON:GRG) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Greggs plc (LON:GRG)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 1,634.75 and traded as high as GBX 1,935. Greggs shares last traded at GBX 1,918, with a volume of 355,218 shares.

Wall Street Analysts Forecast Growth

GRG has been the subject of several recent research reports. Berenberg Bank boosted their price target on 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 reaffirmed a “hold” rating and set a GBX 1,610 price target on shares of Greggs in a research report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating and issued a GBX 1,330 price objective on shares of Greggs in a research note on Thursday, July 30th. UBS Group reiterated a “buy” rating and issued a GBX 2,200 price target on shares of Greggs in a research report on Monday, May 11th. Finally, Royal Bank Of Canada boosted their price target on Greggs from GBX 1,830 to GBX 1,960 and gave the company a “sector perform” rating in a research note on Friday, July 31st. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Greggs currently has an average rating of “Hold” and a consensus price target of GBX 1,881.43.

Greggs Stock Performance

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 stock has a market cap of £1.96 billion, a price-to-earnings ratio of 14.88, a P/E/G ratio of 3.39 and a beta of 1.15. The company has a 50 day simple moving average of GBX 1,670.73 and a 200 day simple moving average of GBX 1,634.75.

Greggs (LON:GRG) last posted its earnings results on Wednesday, July 29th. The company reported GBX 55.10 EPS for the quarter. Greggs had a net margin of 5.93% and a return on equity of 20.97%. As a group, equities research analysts forecast that Greggs plc will post 142.3763386 EPS for the current year.

Insider Transactions at Greggs

In related news, insider Richard Smothers acquired 1,615 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was acquired at an average price of GBX 17 per share, with a total value of £274.55. 0.62% of the stock is currently owned by corporate 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.