Jefferies Financial Group Cuts Greggs (LON:GRG) Price Target to GBX 2,500

Greggs (LON:GRG) had its target price cut by Jefferies Financial Group from GBX 2,650 to GBX 2,500 in a research report issued on Thursday,London Stock Exchange reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s price objective would indicate a potential upside of 50.78% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Berenberg Bank upped their price objective on shares of Greggs from GBX 3,040 to GBX 3,060 and gave the stock a “buy” rating in a report on Wednesday, July 30th. Peel Hunt restated a “hold” rating and set a GBX 1,660 price target on shares of Greggs in a research report on Wednesday. Royal Bank Of Canada reduced their target price on shares of Greggs from GBX 2,350 to GBX 2,190 and set an “outperform” rating for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating and issued a GBX 1,330 target price on shares of Greggs in a research note on Wednesday, July 30th. Finally, Shore Capital restated a “hold” rating on shares of Greggs in a research report on Wednesday. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of GBX 2,148.

Greggs Trading Down 2.8%

LON:GRG opened at GBX 1,658 on Thursday. The firm has a market cap of £1.69 billion, a P/E ratio of 1,175.05, a P/E/G ratio of 3.39 and a beta of 1.43. Greggs has a 52 week low of GBX 1,499 and a 52 week high of GBX 2,956. The firm’s fifty day moving average is GBX 1,601.22 and its 200-day moving average is GBX 1,772.11. The company has a debt-to-equity ratio of 66.19, a quick ratio of 0.88 and a current ratio of 0.80.

Insider Activity at Greggs

In other news, insider Matthew Davies bought 1,249 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The shares were bought at an average cost of GBX 1,600 per share, with a total value of £19,984. 0.56% of the stock is currently owned by insiders.

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.