Greggs (LON:GRG) Shares Cross Above 200 Day Moving Average – What’s Next?

Shares of Greggs plc (LON:GRG) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 1,642.71 and traded as high as GBX 1,829. Greggs shares last traded at GBX 1,801, with a volume of 371,679 shares.

Analyst Ratings Changes

A number of research analysts have issued reports on GRG shares. JPMorgan Chase & Co. boosted their target price on Greggs from GBX 2,050 to GBX 2,210 and gave the company an “outperform” rating in a research note on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating and set a GBX 1,330 price objective on shares of Greggs in a report on Thursday, July 30th. Royal Bank Of Canada boosted their price objective on Greggs from GBX 1,830 to GBX 1,960 and gave the company a “sector perform” rating in a research report on Friday, July 31st. Jefferies Financial Group reissued a “hold” rating and set a GBX 1,610 target price on shares of Greggs in a research note on Wednesday, July 29th. Finally, Shore Capital Group reissued a “hold” rating on shares of Greggs in a research note on Tuesday, May 12th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of GBX 1,881.43.

Greggs Stock Performance

The company has a market cap of £1.84 billion, a P/E ratio of 13.99, a price-to-earnings-growth ratio of 3.39 and a beta of 1.16. The company has a quick ratio of 0.88, a current ratio of 0.52 and a debt-to-equity ratio of 74.16. The stock has a 50 day moving average price of GBX 1,694.76 and a two-hundred day moving average price of GBX 1,643.76.

Greggs (LON:GRG) last released its quarterly 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 20.97% and a net margin of 5.93%. On average, research analysts predict that Greggs plc will post 142.3763386 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Richard Hutton sold 3,069 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of GBX 1,926, for a total value of £59,108.94. 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.