Greggs’ (GRG) “Hold” Rating Reiterated at Jefferies Financial Group

Jefferies Financial Group restated their hold rating on shares of Greggs (LON:GRG) in a research note released on Wednesday morning,Digital Look reports. The firm currently has a GBX 1,610 price target on the stock.

GRG has been the subject of several other reports. UBS Group reiterated a “buy” rating and issued a GBX 2,200 target price on shares of Greggs in a research report on Monday, May 11th. Berenberg Bank restated a “buy” rating and set a GBX 2,090 price target on shares of Greggs in a report on Thursday, May 14th. Shore Capital Group reaffirmed a “hold” rating on shares of Greggs in a research note on Tuesday, May 12th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “sell” rating and issued a GBX 1,330 price objective on shares of Greggs in a report on Wednesday, May 13th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of GBX 1,881.43.

Greggs Stock Down 7.5%

Shares of GRG opened at GBX 1,880 on Wednesday. Greggs has a 52 week low of GBX 1,407.20 and a 52 week high of GBX 2,046. The stock has a market capitalization of £1.92 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 3.39 and a beta of 1.15. 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 stock has a fifty day moving average of GBX 1,650.54 and a 200-day moving average of GBX 1,624.75.

Greggs (LON:GRG) last released its quarterly earnings data on Wednesday, July 29th. The company reported GBX 55.10 earnings per share for the quarter. Greggs had a return on equity of 20.97% and a net margin of 5.93%. As a group, sell-side analysts anticipate that Greggs will post 142.3763386 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Richard Smothers acquired 1,615 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was acquired at an average cost of GBX 17 per share, for a total transaction of £274.55. 0.62% of the stock is owned by insiders.

Trending Headlines about Greggs

Here are the key news stories impacting Greggs this week:

• Positive Sentiment: Strong first-half results: Greggs reported a 20% increase in first-half profit, with growth in its grocery business and continued market-share gains. The company’s value strategy is helping maintain customer demand despite pressure on household budgets. UK’s Greggs first-half profit up 20% as grocery business grows
• Positive Sentiment: Positive broker revisions: Berenberg raised its price target from GBX 2,090 to GBX 2,200 and upgraded Greggs to “buy.” JPMorgan also increased its target from GBX 2,050 to GBX 2,210 and maintained an “outperform” stance. These revisions reinforce the bullish reaction to the trading update. Broker views
• Positive Sentiment: International growth opportunity: Reports that Greggs is finding demand for its products, including sausage rolls, in the Canary Islands highlight potential for expansion beyond its core UK estate. UK’s Greggs finds appetite for sausage rolls in the Canary Islands
• Neutral Sentiment: Mixed analyst consensus: Royal Bank of Canada raised its target from GBX 1,830 to GBX 1,960 but retained a “sector perform” rating. Jefferies likewise reiterated its “hold” recommendation, indicating that valuation or execution risks may limit near-term upside. Broker views
• Negative Sentiment: Bearish counterpoint: Deutsche Bank reaffirmed its “sell” rating and assigned a GBX 1,330 target, substantially below recent trading levels. This signals concern that the strong results and rally may already be reflected in the share price. Deutsche Bank broker view

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.