Greggs (LON:GRG) Given New GBX 2,170 Price Target at Berenberg Bank

Greggs (LON:GRG) had its price target lowered by equities researchers at Berenberg Bank from GBX 2,640 to GBX 2,170 in a research note issued to investors on Thursday,Digital Look reports. The firm presently has a “buy” rating on the stock. Berenberg Bank’s price target points to a potential upside of 31.83% from the stock’s previous close.

Several other equities research analysts also recently weighed in on GRG. Shore Capital reaffirmed a “hold” rating on shares of Greggs in a report on Wednesday, October 1st. Peel Hunt restated a “hold” rating and set a GBX 1,660 target price on shares of Greggs in a research report on Wednesday, October 1st. Jefferies Financial Group decreased their target price on Greggs from GBX 2,650 to GBX 2,500 and set a “buy” rating on the stock in a research report on Thursday, October 2nd. Royal Bank Of Canada reduced their price target on shares of Greggs from GBX 2,350 to GBX 2,190 and set an “outperform” rating on the stock in a report on Thursday, October 2nd. Finally, JPMorgan Chase & Co. started coverage on Greggs in a report on Friday, December 5th. They issued an “overweight” rating and a GBX 2,110 price target for the company. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of GBX 1,993.33.

Greggs Stock Performance

Shares of GRG traded down GBX 10.95 during mid-day trading on Thursday, reaching GBX 1,646.05. 685,262 shares of the company’s stock were exchanged, compared to its average volume of 2,332,631. The business’s fifty day simple moving average is GBX 1,617.99 and its 200-day simple moving average is GBX 1,645.74. Greggs has a 52-week low of GBX 1,407.20 and a 52-week high of GBX 2,266. The company has a debt-to-equity ratio of 66.19, a current ratio of 0.80 and a quick ratio of 0.88. The stock has a market capitalization of £1.68 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 3.39 and a beta of 1.43.

Insiders Place Their Bets

In other news, insider Richard Hutton sold 7,438 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of GBX 1,571, for a total transaction of £116,850.98. 0.57% of the stock is currently owned by company insiders.

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. Greggs also offers a healthier options range which includes a selection of gluten-free, vegan-friendly and lower calorie products.