Greggs (LON:GRG) Earns Overweight Rating from Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. started coverage on shares of Greggs (LON:GRG) in a research note released on Friday morning,Digital Look reports. The brokerage issued an overweight rating and a GBX 2,110 target price on the stock.

Several other brokerages also recently weighed in on GRG. Royal Bank Of Canada lowered their target price on shares of Greggs from GBX 2,350 to GBX 2,190 and set an “outperform” rating on the stock in a report on Thursday, October 2nd. Peel Hunt restated a “hold” rating and issued a GBX 1,660 price objective on shares of Greggs in a research report on Wednesday, October 1st. Shore Capital reiterated a “hold” rating on shares of Greggs in a research report on Wednesday, October 1st. Jefferies Financial Group cut their target price on Greggs from GBX 2,650 to GBX 2,500 and set a “buy” rating for the company in a research note on Thursday, October 2nd. Finally, Berenberg Bank reduced their price target on Greggs from GBX 3,060 to GBX 2,640 and set a “buy” rating for the company in a report on Thursday, October 2nd. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of GBX 2,071.67.

Greggs Price Performance

Greggs stock opened at GBX 1,680.31 on Friday. The company has a 50-day moving average price of GBX 1,606.20 and a 200 day moving average price of GBX 1,695.01. Greggs has a 12-month low of GBX 1,407.20 and a 12-month high of GBX 2,890. The company has a current ratio of 0.80, a quick ratio of 0.88 and a debt-to-equity ratio of 66.19. The stock has a market cap of £1.71 billion, a P/E ratio of 11.91, a PEG ratio of 3.39 and a beta of 1.43.

Insider Transactions at Greggs

In other Greggs news, insider Richard Hutton sold 7,438 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of GBX 1,571, for a total transaction of £116,850.98. Corporate insiders own 0.57% of the company’s stock.

Greggs Company Profile

Greggs is a leading UK food-on-the-go retailer with more than 2,600 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.