Greggs (LON:GRG) Sets New 12-Month High – Here’s What Happened

Greggs plc (LON:GRG) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 1,879 and last traded at GBX 1,874, with a volume of 3320367 shares. The stock had previously closed at GBX 1,690.

Analyst Ratings Changes

A number of research analysts have commented on the company. Shore Capital Group reaffirmed a “hold” rating on shares of Greggs in a research report on Tuesday, May 12th. Berenberg Bank reiterated a “buy” rating and issued a GBX 2,090 price objective on shares of Greggs in a research report on Thursday, May 14th. Deutsche Bank Aktiengesellschaft restated a “sell” rating and set a GBX 1,330 target price on shares of Greggs in a report on Wednesday, May 13th. UBS Group reaffirmed a “buy” rating and issued a GBX 2,200 price target on shares of Greggs in a research note on Monday, May 11th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a GBX 1,610 price target on shares of Greggs in a report on Tuesday, May 12th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Greggs presently has a consensus rating of “Hold” and an average target price of GBX 1,824.29.

Greggs Stock Up 9.6%

The company’s fifty day simple moving average is GBX 1,635.24 and its 200 day simple moving average is GBX 1,618.12. The company has a quick ratio of 0.88, a current ratio of 0.56 and a debt-to-equity ratio of 75.94. The firm has a market capitalization of £1.89 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 3.39 and a beta of 1.15.

Greggs (LON:GRG) last posted its earnings results on Wednesday, July 29th. The company reported GBX 55.10 earnings per share for the quarter. Greggs had a return on equity of 20.47% and a net margin of 5.68%. Analysts anticipate that Greggs plc will post 142.3763386 earnings per share for the current fiscal year.

Insider Buying and Selling at Greggs

In other news, insider Richard Smothers purchased 1,615 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were bought at an average cost of GBX 17 per share, for a total transaction of £274.55. 0.62% of the stock is owned by corporate insiders.

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.