Greggs (LON:GRG) Trading 9.2% Higher – Time to Buy?

Greggs plc (LON:GRG) rose 9.2% during mid-day trading on Wednesday . The stock traded as high as GBX 2,237.88 ($29.97) and last traded at GBX 2,182 ($29.22). Approximately 1,496,559 shares changed hands during trading, a decline of 0% from the average daily volume of 1,501,760 shares. The stock had previously closed at GBX 1,999 ($26.77).

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Shore Capital restated a “buy” rating on shares of Greggs in a research report on Tuesday. Berenberg Bank decreased their price target on shares of Greggs from GBX 3,420 ($45.80) to GBX 3,250 ($43.52) and set a “buy” rating for the company in a report on Wednesday, March 5th.

Greggs Stock Performance

The company has a quick ratio of 0.88, a current ratio of 0.80 and a debt-to-equity ratio of 66.19. The company has a market capitalization of £2.17 billion, a P/E ratio of 15.98, a PEG ratio of 3.39 and a beta of 1.43. The stock has a fifty day simple moving average of GBX 1,827.02 and a 200-day simple moving average of GBX 2,210.36.

Greggs (LON:GRG) last released its quarterly earnings data on Tuesday, March 4th. The company reported GBX 150.70 ($2.02) earnings per share for the quarter. Greggs had a net margin of 7.13% and a return on equity of 26.79%. Equities analysts forecast that Greggs plc will post 142.3763386 EPS for the current year.

Greggs Increases Dividend

The company also recently disclosed a dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 20th were issued a dividend of GBX 100 ($1.34) per share. This represents a dividend yield of 3.66%. The ex-dividend date of this dividend was Thursday, March 20th. This is a boost from Greggs’s previous dividend of $50.00. Greggs’s payout ratio is currently 48.21%.

Insider Buying and Selling

In related news, insider Roisin Currie purchased 721 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The stock was bought at an average price of GBX 1,796 ($24.05) per share, with a total value of £12,949.16 ($17,341.85). 5.89% of the stock is currently owned by company 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.