Greggs (LON:GRG) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Shares of Greggs plc (LON:GRG) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 1,634.11 and traded as high as GBX 1,694. Greggs shares last traded at GBX 1,655, with a volume of 12,987,498 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GRG. Shore Capital Group restated a “hold” rating on shares of Greggs in a research report on Tuesday, May 12th. Jefferies Financial Group reiterated a “hold” rating and issued a GBX 1,610 price objective on shares of Greggs in a report on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft reissued a “sell” rating and issued a GBX 1,330 target price on shares of Greggs in a research note on Wednesday, May 13th. JPMorgan Chase & Co. reduced their target price on Greggs from GBX 2,060 to GBX 2,050 and set an “overweight” rating on the stock in a report on Wednesday, March 4th. Finally, UBS Group restated a “buy” rating and set a GBX 2,200 target price on shares of Greggs in a research report on Monday, May 11th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of GBX 1,824.29.

Greggs Trading Down 0.0%

The company’s fifty day simple moving average is GBX 1,644.47 and its two-hundred day simple moving average is GBX 1,635.15. The company has a market capitalization of £1.66 billion, a price-to-earnings ratio of 13.69, a price-to-earnings-growth ratio of 3.39 and a beta of 1.14. The company has a quick ratio of 0.88, a current ratio of 0.56 and a debt-to-equity ratio of 75.94.

Insider Activity at Greggs

In other Greggs news, insider Richard Smothers acquired 1,615 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average price of GBX 17 per share, with a total value of £274.55. 0.62% of the stock is currently owned by corporate insiders.

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.