Greggs (LON:GRG) Earns “Hold” Rating from Shore Capital

Greggs (LON:GRG)‘s stock had its “hold” rating restated by equities research analysts at Shore Capital in a research note issued on Wednesday, MarketBeat.com reports.

A number of other brokerages have also recently weighed in on GRG. Deutsche Bank Aktiengesellschaft restated a “sell” rating and issued a GBX 1,330 price objective on shares of Greggs in a report on Wednesday, July 30th. Berenberg Bank lifted their price objective on shares of Greggs from GBX 3,040 to GBX 3,060 and gave the company a “buy” rating in a report on Wednesday, July 30th. Finally, Peel Hunt restated a “hold” rating and issued a GBX 1,660 price objective on shares of Greggs in a report on Tuesday, July 29th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of GBX 2,148.

Greggs Price Performance

Greggs stock opened at GBX 1,651.92 on Wednesday. The company’s 50 day simple moving average is GBX 1,599.89 and its 200-day simple moving average is GBX 1,770.66. The company has a market capitalization of £1.68 billion, a price-to-earnings ratio of 1,170.75, a price-to-earnings-growth ratio of 3.39 and a beta of 1.43. Greggs has a 1 year low of GBX 1,499 and a 1 year high of GBX 2,956. The company has a debt-to-equity ratio of 66.19, a quick ratio of 0.88 and a current ratio of 0.80.

Insider Activity

In related news, insider Matthew Davies bought 1,249 shares of the stock in a transaction dated Wednesday, August 20th. The stock was acquired at an average price of GBX 1,600 per share, for a total transaction of £19,984. Insiders own 0.56% of the company’s stock.

Greggs Company Profile

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.