Greggs (LON:GRG) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Shares of Greggs plc (LON:GRG) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 1,621.36 and traded as high as GBX 1,677. Greggs shares last traded at GBX 1,669, with a volume of 238,905 shares.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on GRG shares. Shore Capital Group reissued a “hold” rating on shares of Greggs in a report on Tuesday, May 12th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 2,090 price target on shares of Greggs in a report on Thursday, May 14th. Royal Bank Of Canada lowered their target price on shares of Greggs from GBX 1,970 to GBX 1,830 and set an “outperform” rating on the stock in a research note on Tuesday, March 10th. JPMorgan Chase & Co. lowered their target price on shares of Greggs from GBX 2,060 to GBX 2,050 and set an “overweight” rating on the stock in a research note on Wednesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft restated a “sell” rating and set a GBX 1,330 price target on shares of Greggs in a research report on Wednesday, May 13th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of GBX 1,824.29.

Greggs Price Performance

The stock’s fifty day moving average price is GBX 1,612.06 and its 200-day moving average price is GBX 1,621.36. The firm has a market cap of £1.70 billion, a price-to-earnings ratio of 13.99, a P/E/G ratio of 3.39 and a beta of 1.13. The company has a current ratio of 0.56, a quick ratio of 0.88 and a debt-to-equity ratio of 75.94.

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

Insider Buying and Selling 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 purchased at an average price of GBX 17 per share, with a total value of £274.55. 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 2,700 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.