JPMorgan Chase & Co. Cuts Greggs (LON:GRG) Price Target to GBX 2,050

Greggs (LON:GRG) had its price target decreased by JPMorgan Chase & Co. from GBX 2,060 to GBX 2,050 in a research report released on Wednesday, MarketBeat reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other equities research analysts have also issued reports on the company. Jefferies Financial Group lowered Greggs to a “hold” rating and dropped their price objective for the company from GBX 2,500 to GBX 1,610 in a research note on Monday, February 9th. Berenberg Bank cut their target price on Greggs from GBX 2,640 to GBX 2,170 and set a “buy” rating for the company in a research note on Thursday, January 8th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Greggs presently has an average rating of “Hold” and a consensus target price of GBX 1,835.

Greggs Stock Performance

Greggs stock opened at GBX 1,676 on Wednesday. Greggs has a 1-year low of GBX 1,407.20 and a 1-year high of GBX 2,237.88. The company has a current ratio of 0.56, a quick ratio of 0.88 and a debt-to-equity ratio of 75.94. The firm has a market capitalization of £1.71 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 3.39 and a beta of 1.28. The firm’s 50 day simple moving average is GBX 1,641.49 and its 200 day simple moving average is GBX 1,622.45.

Greggs (LON:GRG) last announced its quarterly earnings results on Wednesday, March 4th. The company reported GBX 120 EPS for the quarter. Greggs had a net margin of 5.68% and a return on equity of 20.47%. As a group, analysts expect that Greggs will post 142.3763386 earnings per share for the current fiscal year.

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.