Greggs (LON:GRG) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

Greggs plc (LON:GRG)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 1,663.09 and traded as high as GBX 1,697. Greggs shares last traded at GBX 1,676, with a volume of 206,819 shares.

Analyst Ratings Changes

Several analysts have issued reports on GRG shares. Peel Hunt reissued a “hold” rating and set a GBX 1,660 price target on shares of Greggs in a report on Wednesday, October 1st. JPMorgan Chase & Co. started coverage on Greggs in a research note on Friday, December 5th. They set an “overweight” rating and a GBX 2,110 price objective for the company. Royal Bank Of Canada reduced their target price on shares of Greggs from GBX 2,350 to GBX 2,190 and set an “outperform” rating for the company in a report on Thursday, October 2nd. Shore Capital reaffirmed a “hold” rating on shares of Greggs in a report on Wednesday, October 1st. Finally, Jefferies Financial Group dropped their price target on shares of Greggs from GBX 2,650 to GBX 2,500 and set a “buy” rating for the company in a research report on Thursday, October 2nd. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Greggs currently has a consensus rating of “Hold” and a consensus price target of GBX 2,071.67.

Greggs Price Performance

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 company has a market cap of £1.71 billion, a P/E ratio of 11.90, a P/E/G ratio of 3.39 and a beta of 1.43. The firm has a 50 day moving average of GBX 1,611.16 and a 200-day moving average of GBX 1,663.09.

Insider Activity at Greggs

In related news, insider Richard Hutton sold 7,438 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of GBX 1,571, for a total transaction of £116,850.98. Company 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. Greggs also offers a healthier options range which includes a selection of gluten-free, vegan-friendly and lower calorie products.