Greggs (LON:GRG) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Greggs plc (LON:GRG) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 1,635.09 and traded as high as GBX 1,660. Greggs shares last traded at GBX 1,650, with a volume of 31,774,244 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GRG shares. UBS Group reissued a “buy” rating and issued a GBX 2,200 target price on shares of Greggs in a research note on Monday, May 11th. JPMorgan Chase & Co. lowered their price target on Greggs from GBX 2,060 to GBX 2,050 and set an “overweight” rating for the company in a report on Wednesday, March 4th. Berenberg Bank reissued a “buy” rating and issued a GBX 2,090 price objective on shares of Greggs in a research report on Thursday, May 14th. Shore Capital Group reaffirmed a “hold” rating on shares of Greggs in a research report on Tuesday, May 12th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a GBX 1,610 target price on shares of Greggs in a research note on Tuesday, May 12th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of GBX 1,824.29.

Greggs Trading Down 0.8%

The business’s 50-day simple moving average is GBX 1,646.26 and its two-hundred day simple moving average is GBX 1,635.04. The company has a current ratio of 0.56, a quick ratio of 0.88 and a debt-to-equity ratio of 75.94. The company has a market capitalization of £1.68 billion, a PE ratio of 13.81, a PEG ratio of 3.39 and a beta of 1.14.

Insider Buying and Selling

In other Greggs news, insider Richard Smothers acquired 1,615 shares of the stock in a transaction on Tuesday, May 19th. The stock was purchased at an average price of GBX 17 per share, for a total transaction of £274.55. Corporate 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.