Greggs (LON:GRG) Earns “Hold” Rating from Shore Capital Group

Greggs (LON:GRG)‘s stock had its “hold” rating reissued by analysts at Shore Capital Group in a research note issued on Wednesday, Digital Look reports. They presently have a GBX 1,910 price objective on the stock. Shore Capital Group’s price objective points to a potential downside of 5.73% from the stock’s current price.

GRG has been the subject of a number of other research reports. Royal Bank Of Canada increased their price objective on shares of Greggs from GBX 1,830 to GBX 1,960 and gave the company a “sector perform” rating in a report on Friday, July 31st. Berenberg Bank lifted their price objective on Greggs from GBX 2,090 to GBX 2,200 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft restated a “sell” rating and issued a GBX 1,330 target price on shares of Greggs in a 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 report on Thursday, July 30th. Finally, Jefferies Financial Group raised their price objective on shares of Greggs from GBX 1,610 to GBX 1,740 and gave the stock a “hold” rating in a research report on Friday, August 28th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of GBX 1,962.86.

Greggs Stock Performance

Shares of GRG stock opened at GBX 2,026 on Wednesday. The company has a current ratio of 0.52, a quick ratio of 0.88 and a debt-to-equity ratio of 74.16. Greggs has a 12-month low of GBX 1,407.20 and a 12-month high of GBX 2,058. The business’s 50 day moving average is GBX 1,848.69 and its two-hundred day moving average is GBX 1,693.05. The company has a market capitalization of £2.07 billion, a P/E ratio of 15.72, a P/E/G ratio of 3.39 and a beta of 1.16.

Greggs (LON:GRG) last posted its quarterly earnings data on Wednesday, July 29th. The company reported GBX 55.10 EPS for the quarter. Greggs had a return on equity of 20.97% and a net margin of 5.93%. Analysts expect that Greggs will post 142.3763386 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Richard Hutton sold 3,069 shares of Greggs stock in a transaction that occurred on 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.

Trending Headlines about Greggs

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.