Greggs (LON:GRG) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Shares of Greggs plc (LON:GRG) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 1,635.09 and traded as high as GBX 1,660. Greggs shares last traded at GBX 1,650, with a volume of 31,774,244 shares changing hands.

Analyst Ratings Changes

GRG has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating and set a GBX 1,330 price objective on shares of Greggs in a research report on Wednesday, May 13th. Jefferies Financial Group reiterated a “hold” rating and issued a GBX 1,610 target price on shares of Greggs in a report on Tuesday, May 12th. UBS Group reissued a “buy” rating and set a GBX 2,200 target price on shares of Greggs in a research note on Monday, May 11th. Royal Bank Of Canada cut their price target on Greggs from GBX 1,970 to GBX 1,830 and set an “outperform” rating on the stock in a report on Tuesday, March 10th. Finally, JPMorgan Chase & Co. reduced their price target on Greggs from GBX 2,060 to GBX 2,050 and set an “overweight” rating on the stock in a research report on Wednesday, March 4th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Greggs currently has a consensus rating of “Hold” and a consensus target price of GBX 1,824.29.

Greggs Stock Up 3.1%

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 company has a market cap of £1.68 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 3.39 and a beta of 1.14. The firm’s fifty day simple moving average is GBX 1,645.50 and its 200 day simple moving average is GBX 1,635.09.

Insider Activity

In other news, insider Richard Smothers acquired 1,615 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The stock was acquired at an average cost of GBX 17 per share, with a total value of £274.55. Company insiders own 0.62% of the company’s stock.

About Greggs

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.