Berenberg Bank Cuts Greggs (LON:GRG) Price Target to GBX 2,170

Greggs (LON:GRG) had its price target decreased by Berenberg Bank from GBX 2,640 to GBX 2,170 in a research note released on Thursday morning, Marketbeat reports. Berenberg Bank currently has a buy rating on the stock.

A number of other analysts also recently commented on the company. Jefferies Financial Group reduced their price objective on 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. JPMorgan Chase & Co. began coverage on Greggs in a research note on Friday, December 5th. They issued an “overweight” rating and a GBX 2,110 target price for the company. Royal Bank Of Canada reduced their target price on Greggs from GBX 2,350 to GBX 2,190 and set an “outperform” rating for the company in a research report on Thursday, October 2nd. Shore Capital reissued a “hold” rating on shares of Greggs in a report on Wednesday, October 1st. Finally, Peel Hunt restated a “hold” rating and issued a GBX 1,660 price objective on shares of Greggs in a research note on Wednesday, October 1st. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Greggs has a consensus rating of “Hold” and a consensus price target of GBX 1,993.33.

Greggs Stock Down 0.7%

Shares of GRG opened at GBX 1,646.05 on Thursday. The company has a debt-to-equity ratio of 66.19, a quick ratio of 0.88 and a current ratio of 0.80. The company has a 50-day simple moving average of GBX 1,618.35 and a 200-day simple moving average of GBX 1,641.78. Greggs has a 52 week low of GBX 1,407.20 and a 52 week high of GBX 2,266. The firm has a market capitalization of £1.68 billion, a P/E ratio of 11.67, a P/E/G ratio of 3.39 and a beta of 1.43.

Insider Activity

In other Greggs news, insider Richard Hutton sold 7,438 shares of Greggs 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. Insiders own 0.57% of the company’s stock.

About Greggs

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.