Berenberg Bank Cuts Greggs (LON:GRG) Price Target to GBX 3,250

Greggs (LON:GRG) had its price target cut by Berenberg Bank from GBX 3,420 ($44.20) to GBX 3,250 ($42.01) in a report published on Wednesday, MarketBeat Ratings reports. They currently have a buy rating on the stock.

Greggs Price Performance

Shares of GRG opened at GBX 1,867 ($24.13) on Wednesday. Greggs has a 12-month low of GBX 1,755 ($22.68) and a 12-month high of GBX 3,250 ($42.01). The business has a 50-day simple moving average of GBX 2,204.48 and a two-hundred day simple moving average of GBX 2,651.97. The company has a quick ratio of 0.88, a current ratio of 0.80 and a debt-to-equity ratio of 66.19. The stock has a market cap of £1.88 billion, a PE ratio of 13.85, a PEG ratio of 3.39 and a beta of 1.43.

Greggs (LON:GRG) last issued its quarterly earnings results on Tuesday, March 4th. The company reported GBX 150.70 ($1.95) earnings per share for the quarter. Greggs had a return on equity of 26.79% and a net margin of 7.13%. Analysts anticipate that Greggs will post 142.3763386 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Greggs news, insider Nigel Mills purchased 925 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was bought at an average cost of GBX 2,149 ($27.78) per share, with a total value of £19,878.25 ($25,692.45). Corporate insiders own 5.89% of the company’s stock.

Greggs Company Profile

Greggs is a leading UK food-on-the-go retailer with more than 2,400 shops nationwide and approximately 32,000 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.