Greggs plc (GRG) Receives Average Recommendation of “Hold” from Brokerages
Shares of Greggs plc (LON:GRG) have been assigned a consensus rating of “Hold” from the six analysts that are presently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is GBX 1,256 ($16.82).
GRG has been the subject of a number of recent analyst reports. Shore Capital restated a “hold” rating on shares of Greggs in a report on Wednesday, August 9th. Berenberg Bank upgraded Greggs to a “buy” rating and upped their target price for the company from GBX 1,020 ($13.66) to GBX 1,300 ($17.41) in a report on Thursday, August 10th. Canaccord Genuity upped their target price on Greggs from GBX 1,000 ($13.39) to GBX 1,300 ($17.41) and gave the company a “hold” rating in a report on Thursday, October 12th. Finally, Barclays initiated coverage on Greggs in a report on Monday, November 20th. They set an “equal weight” rating and a GBX 1,405 ($18.82) target price for the company.
Shares of Greggs (LON GRG) traded up GBX 3.90 ($0.05) during trading on Friday, reaching GBX 1,331.90 ($17.84). 347,755 shares of the company were exchanged, compared to its average volume of 206,226. Greggs has a 12-month low of GBX 891.17 ($11.93) and a 12-month high of GBX 1,371 ($18.36).
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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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