Greggs (LON:GRG) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Greggs plc (LON:GRG)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 1,634.11 and traded as high as GBX 1,694. Greggs shares last traded at GBX 1,655, with a volume of 12,987,498 shares.

Wall Street Analyst Weigh In

Several analysts have weighed in on GRG shares. Berenberg Bank reiterated a “buy” rating and issued a GBX 2,090 price objective on shares of Greggs in a research note on Thursday, May 14th. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating and issued a GBX 1,330 price objective on shares of Greggs in a research note on Wednesday, May 13th. JPMorgan Chase & Co. dropped their price objective on shares of Greggs from GBX 2,060 to GBX 2,050 and set an “overweight” rating for the company in a research note on Wednesday, March 4th. Shore Capital Group restated a “hold” rating on shares of Greggs in a research report on Tuesday, May 12th. Finally, UBS Group restated a “buy” rating and issued a GBX 2,200 target price on shares of Greggs in a research report on Monday, May 11th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Greggs currently has an average rating of “Hold” and an average price target of GBX 1,824.29.

Greggs Stock Down 2.1%

The firm’s 50-day moving average price is GBX 1,641.13 and its 200 day moving average price is GBX 1,634.11. The company has a market capitalization of £1.69 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 3.39 and a beta of 1.14. The company has a current ratio of 0.56, a quick ratio of 0.88 and a debt-to-equity ratio of 75.94.

Insider Transactions at Greggs

In related news, insider Richard Smothers acquired 1,615 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was acquired at an average cost of GBX 17 per share, for a total transaction of £274.55. 0.62% of the stock is currently owned by corporate insiders.

Greggs Company Profile

Greggs is a leading UK food-on-the-go retailer with more than 2,700 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.