Greggs (LON:GRG) Share Price Crosses Above 200 Day Moving Average of $2,559.05

Shares of Greggs plc (LON:GRG) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 2,559.05 ($31.43) and traded as high as GBX 2,608 ($32.03). Greggs shares last traded at GBX 2,598 ($31.90), with a volume of 185,263 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Berenberg Bank increased their target price on Greggs from GBX 3,440 ($42.24) to GBX 3,550 ($43.60) and gave the company a “buy” rating in a report on Tuesday, October 3rd. Shore Capital restated a “hold” rating on shares of Greggs in a research report on Tuesday, October 3rd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of GBX 2,950 ($36.23).

Greggs Stock Performance

The business has a 50 day moving average of GBX 2,411.96 and a 200 day moving average of GBX 2,559.05. The company has a market capitalization of £2.66 billion, a P/E ratio of 1,968.18, a price-to-earnings-growth ratio of 3.39 and a beta of 1.41. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 65.97.

Insider Activity at Greggs

In other news, insider Roisin Currie purchased 88 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was bought at an average cost of GBX 1,424 ($17.49) per share, with a total value of £1,253.12 ($1,538.89). 5.85% of the stock is owned by corporate insiders.

About Greggs

Greggs plc operates as a food-on-the-go retailer in the United Kingdom. It offers a range of fresh and frozen 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.