Greggs (LON:GRG) Stock Price Crosses Above 200-Day Moving Average – Should You Sell?

Greggs plc (LON:GRG)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 1,625.56 and traded as high as GBX 1,643. Greggs shares last traded at GBX 1,639.07, with a volume of 407,872 shares traded.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Berenberg Bank decreased their price target on shares of Greggs from GBX 2,640 to GBX 2,170 and set a “buy” rating on the stock in a research note on Thursday, January 8th. JPMorgan Chase & Co. initiated coverage on Greggs in a report on Friday, December 5th. They issued an “overweight” rating and a GBX 2,110 target price on the stock. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of GBX 1,993.33.

Greggs Stock Performance

The business’s fifty day moving average price is GBX 1,655.97 and its two-hundred day moving average price is GBX 1,625.56. The company has a debt-to-equity ratio of 66.19, a quick ratio of 0.88 and a current ratio of 0.80. The stock has a market capitalization of £1.67 billion, a P/E ratio of 11.62, a P/E/G ratio of 3.39 and a beta of 1.43.

Greggs (LON:GRG) last released its quarterly earnings results on Friday, January 16th. The company reported GBX 45.60 EPS for the quarter. Greggs had a return on equity of 26.79% and a net margin of 7.13%. As a group, sell-side analysts forecast that Greggs plc will post 142.3763386 earnings per share for the current year.

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. Greggs also offers a healthier options range which includes a selection of gluten-free, vegan-friendly and lower calorie products.