Greggs (LON:GRG) Hits New 12-Month High – Time to Buy?

Shares of Greggs plc (LON:GRG) reached a new 52-week high during mid-day trading on Tuesday. The company traded as high as GBX 2,348 and last traded at GBX 2,346, with a volume of 592,437 shares changing hands. The stock had previously closed at GBX 2,290.

Analysts Set New Price Targets

GRG has been the subject of several recent research reports. Jefferies Financial Group lifted their price objective on Greggs from GBX 1,610 to GBX 1,740 and gave the company a “hold” rating in a research note on Friday, August 28th. JPMorgan Chase & Co. upped 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. Deutsche Bank Aktiengesellschaft upped their target price on shares of Greggs from GBX 1,330 to GBX 1,420 and gave the stock a “sell” rating in a research note on Wednesday, September 30th. Shore Capital Group reaffirmed a “hold” rating and issued a GBX 1,910 target price on shares of Greggs in a report on Wednesday, September 30th. Finally, Berenberg Bank lifted their price target on shares of Greggs from GBX 2,200 to GBX 2,300 and gave the stock a “buy” rating in a research note on Thursday, October 1st. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Greggs currently has a consensus rating of “Hold” and a consensus price target of GBX 1,962.86.

Greggs Trading Down 0.9%

The company has a debt-to-equity ratio of 74.16, a quick ratio of 0.88 and a current ratio of 0.52. The company’s 50-day moving average price is GBX 1,906.77 and its 200-day moving average price is GBX 1,741.69. The firm has a market capitalization of £2.37 billion, a PE ratio of 18.04, a PEG ratio of 3.39 and a beta of 1.16.

Greggs (LON:GRG) last posted its earnings results on Wednesday, July 29th. The company reported GBX 55.10 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 expect that Greggs plc will post 142.38 earnings per share for the current year.

Insider Transactions at Greggs

In other Greggs news, insider Richard Hutton sold 3,069 shares of Greggs stock in a transaction dated Friday, August 7th. The stock was sold at an average price of GBX 1,926, for a total transaction of £59,108.94. 0.63% of the stock is owned by company insiders.

Greggs Company Profile

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.