Greggs (LON:GRG) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Greggs plc (LON:GRG) shares 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 traded.

Wall Street Analysts Forecast Growth

GRG has been the subject of several research reports. Jefferies Financial Group reiterated a “hold” rating and set a GBX 1,610 price objective on shares of Greggs in a research note on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating and set a GBX 1,330 price target on shares of Greggs in a research report on Thursday, July 30th. Royal Bank Of Canada increased their price objective 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. JPMorgan Chase & Co. lifted their target price on shares of Greggs from GBX 2,050 to GBX 2,210 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Finally, Berenberg Bank upped their target price on shares of Greggs from GBX 2,090 to GBX 2,200 and gave the stock a “buy” rating in a report on Thursday, July 30th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of GBX 1,881.43.

Greggs Price Performance

The firm has a market capitalization of £1.96 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 3.39 and a beta of 1.15. The stock’s 50 day simple moving average is GBX 1,670.73 and its two-hundred day simple moving average is GBX 1,634.75. The company has a debt-to-equity ratio of 74.16, a quick ratio of 0.88 and a current ratio of 0.52.

Greggs (LON:GRG) last posted its quarterly earnings results on Wednesday, July 29th. The company reported GBX 55.10 earnings per share (EPS) for the quarter. Greggs had a return on equity of 20.97% and a net margin of 5.93%. On average, sell-side analysts forecast that Greggs plc will post 142.3763386 EPS for the current year.

Insiders Place Their Bets

In related news, insider Richard Smothers bought 1,615 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was bought at an average cost of GBX 17 per share, for a total transaction of £274.55. Company insiders own 0.62% of the company’s stock.

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.