Royal Bank of Canada Reiterates “Overweight” Rating for Greggs (LON:GRG)

Greggs (LON:GRG)‘s stock had its “overweight” rating restated by equities research analysts at Royal Bank of Canada in a research report issued on Wednesday, Marketbeat.com reports. They presently have a GBX 3,335 ($41.89) target price on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 20.22% from the company’s previous close.

GRG has been the subject of a number of other reports. Shore Capital reaffirmed a “house stock” rating on shares of Greggs in a research note on Tuesday. Jefferies Financial Group restated a “buy” rating and set a GBX 3,450 ($43.33) price objective on shares of Greggs in a research report on Wednesday, March 20th. Finally, Berenberg Bank dropped their target price on shares of Greggs from GBX 3,390 ($42.58) to GBX 3,340 ($41.95) and set a “buy” rating on the stock in a report on Tuesday.

Greggs Trading Down 0.4 %

LON:GRG opened at GBX 2,774 ($34.84) on Wednesday. The business has a fifty day moving average of GBX 2,794.41 and a 200-day moving average of GBX 2,670.14. The stock has a market cap of £2.82 billion, a price-to-earnings ratio of 1,995.68, a PEG ratio of 3.39 and a beta of 1.30. The company has a debt-to-equity ratio of 60.20, a quick ratio of 0.88 and a current ratio of 1.09. Greggs has a 1 year low of GBX 2,244 ($28.18) and a 1 year high of GBX 2,910 ($36.55).

Insiders Place Their Bets

In other news, insider Richard Hutton sold 18,005 shares of the firm’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of GBX 2,758 ($34.64), for a total value of £496,577.90 ($623,684.88). In related news, insider Roisin Currie acquired 65 shares of the company’s stock in a transaction on Thursday, April 11th. The shares were purchased at an average price of GBX 2,766 ($34.74) per share, for a total transaction of £1,797.90 ($2,258.10). Also, insider Richard Hutton sold 18,005 shares of the stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of GBX 2,758 ($34.64), for a total value of £496,577.90 ($623,684.88). Corporate insiders own 5.82% of the company’s stock.

Greggs Company Profile

Greggs plc operates as a food-on-the-go retailer in the United Kingdom. It offers a range of fresh bakery products, sandwiches, and drinks. The company sells products to franchise and wholesale partners for sale in their own outlets. It is also involved in the property holding, non-trading, and trustee businesses.