Berenberg Bank Reaffirms “Buy” Rating for Greggs (LON:GRG)

Greggs (LON:GRG)‘s stock had its “buy” rating reaffirmed by analysts at Berenberg Bank in a note issued to investors on Wednesday, MarketBeat Ratings reports. They currently have a GBX 3,250 ($43.62) target price on the stock. Berenberg Bank’s target price suggests a potential upside of 52.91% from the company’s previous close.

Separately, Shore Capital reissued a “buy” rating on shares of Greggs in a research note on Tuesday.

Greggs Trading Down 1.8%

GRG opened at GBX 2,125.38 ($28.53) on Wednesday. The stock has a market cap of £2.14 billion, a price-to-earnings ratio of 15.76, a P/E/G ratio of 3.39 and a beta of 1.43. The stock’s 50 day moving average price is GBX 1,838.56 and its 200-day moving average price is GBX 2,205.58. Greggs has a one year low of GBX 1,657 ($22.24) and a one year high of GBX 3,250 ($43.62). The company has a debt-to-equity ratio of 66.19, a quick ratio of 0.88 and a current ratio of 0.80.

Greggs (LON:GRG) last announced its quarterly earnings data on Tuesday, March 4th. The company reported GBX 150.70 ($2.02) earnings per share (EPS) for the quarter. Greggs had a return on equity of 26.79% and a net margin of 7.13%. On average, equities analysts forecast that Greggs will post 142.3763386 EPS for the current year.

Insider Buying and Selling

In other news, insider Roisin Currie acquired 721 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The shares were bought at an average price of GBX 1,796 ($24.11) per share, with a total value of £12,949.16 ($17,381.42). 5.89% of the stock is owned by insiders.

Greggs Company Profile

Greggs is a leading UK food-on-the-go retailer with more than 2,600 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.