Greggs plc (GRG) Receives Consensus Recommendation of “Buy” from Brokerages
Greggs plc (LON:GRG) has been assigned an average rating of “Buy” from the six analysts that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is GBX 1,145 ($14.79).
Several brokerages recently weighed in on GRG. Shore Capital reissued a “hold” rating on shares of Greggs plc in a report on Wednesday, August 9th. Berenberg Bank reissued a “hold” rating and issued a GBX 1,020 ($13.17) price objective on shares of Greggs plc in a report on Wednesday, May 31st. Finally, Investec reissued a “buy” rating and issued a GBX 1,225 ($15.82) price objective on shares of Greggs plc in a report on Tuesday, August 1st.
Shares of Greggs plc (LON GRG) traded down 0.49% during midday trading on Friday, hitting GBX 1211.00. 190,042 shares of the stock were exchanged. The firm’s market capitalization is GBX 1.22 billion. The stock’s 50-day moving average price is GBX 1,170.68 and its 200-day moving average price is GBX 1,093.42. Greggs plc has a 1-year low of GBX 891.17 and a 1-year high of GBX 1,257.00.
The firm also recently declared a dividend, which will be paid on Friday, October 6th. Stockholders of record on Thursday, September 7th will be given a dividend of GBX 10.30 ($0.13) per share. The ex-dividend date is Thursday, September 7th. This represents a dividend yield of 0.92%.
About Greggs plc
Greggs plc is a United Kingdom-based bakery food on-the-go retailer. The Company’s products and services consist of a range of fresh bakery goods, sandwiches and drinks in its shop. The Company also provides frozen bakery products to its wholesale customers. The Company owns approximately 1,698 shops, 12 regional bakeries, one distribution center and one manufacturing center.
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