Berenberg Bank Trims Greggs (LON:GRG) Target Price to GBX 3,390

Greggs (LON:GRG) had its price target reduced by analysts at Berenberg Bank from GBX 3,550 ($43.85) to GBX 3,390 ($41.87) in a research report issued on Thursday, Digital Look reports. The brokerage presently has a “buy” rating on the stock. Berenberg Bank’s price objective suggests a potential upside of 25.28% from the company’s current price.

Separately, Jefferies Financial Group reiterated a “buy” rating and set a GBX 3,450 ($42.61) target price on shares of Greggs in a report on Wednesday, March 20th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of GBX 3,035 ($37.49).

Greggs Stock Performance

GRG stock opened at GBX 2,706 ($33.42) on Thursday. The business’s 50-day moving average price is GBX 2,796.37 and its two-hundred day moving average price is GBX 2,626.42. The company has a current ratio of 1.09, a quick ratio of 0.88 and a debt-to-equity ratio of 60.20. The firm has a market cap of £2.74 billion, a PE ratio of 1,946.76, a P/E/G ratio of 3.39 and a beta of 1.28. Greggs has a 1-year low of GBX 2,244 ($27.72) and a 1-year high of GBX 2,914 ($35.99).

Insider Activity

In other news, insider Richard Hutton sold 18,005 shares of the company’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of GBX 2,758 ($34.07), for a total transaction of £496,577.90 ($613,362.03). In other news, insider Richard Hutton sold 18,005 shares of the company’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of GBX 2,758 ($34.07), for a total transaction of £496,577.90 ($613,362.03). Also, insider Roisin Currie acquired 65 shares of Greggs stock in a transaction dated Thursday, April 11th. The shares were purchased at an average cost of GBX 2,766 ($34.17) per share, with a total value of £1,797.90 ($2,220.73). Corporate insiders own 5.88% of the company’s stock.

About Greggs

Greggs plc operates as a food-on-the-go retailer in the United Kingdom. It offers a range of fresh bakery products, sandwiches, and drinks. The company sells products to franchise and wholesale partners for sale in their own outlets. It is also involved in the property holding, non-trading, and trustee businesses.