Greggs (LON:GRG) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Greggs plc (LON:GRG)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 1,618.89 and traded as high as GBX 1,661. Greggs shares last traded at GBX 1,648.42, with a volume of 325,758 shares.

Wall Street Analyst Weigh In

A number of analysts have issued reports on GRG shares. Royal Bank Of Canada reduced their price objective on Greggs from GBX 1,970 to GBX 1,830 and set an “outperform” rating on the stock in a research note on Tuesday, March 10th. Berenberg Bank reduced their price objective on 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. reduced their price objective on Greggs from GBX 2,060 to GBX 2,050 and set an “overweight” rating on the stock in a research note on Wednesday, March 4th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a GBX 1,610 price objective on shares of Greggs in a research note on Tuesday, April 14th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of GBX 1,775.

Greggs Trading Up 1.8%

The stock has a market cap of £1.68 billion, a PE ratio of 13.82, a PEG ratio of 3.39 and a beta of 1.17. The company has a debt-to-equity ratio of 75.94, a quick ratio of 0.88 and a current ratio of 0.56. The stock has a fifty day moving average price of GBX 1,594.28 and a 200 day moving average price of GBX 1,618.89.

Greggs (LON:GRG) last announced its earnings results on Wednesday, March 4th. The company reported GBX 120 EPS for the quarter. Greggs had a return on equity of 20.47% and a net margin of 5.68%. Equities analysts expect that Greggs plc will post 142.3763386 EPS for the current year.

About Greggs

Greggs is a leading UK food-on-the-go retailer with more than 2,700 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.