Greggs (LON:GRG) Stock Passes 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 Friday . The stock has a 200-day moving average of GBX 1,630.85 and traded as high as GBX 1,670. Greggs shares last traded at GBX 1,663, with a volume of 202,660 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. initiated coverage on Greggs in a report on Friday, December 5th. They set an “overweight” rating and a GBX 2,110 price objective on the stock. Royal Bank Of Canada dropped their target price on shares of Greggs from GBX 2,350 to GBX 2,190 and set an “outperform” rating on the stock in a report on Thursday, October 2nd. Shore Capital reaffirmed a “hold” rating on shares of Greggs in a research note on Wednesday, October 1st. Berenberg Bank lowered their price objective on shares of Greggs from GBX 2,640 to GBX 2,170 and set a “buy” rating for the company in a research report on Thursday, January 8th. Finally, Jefferies Financial Group dropped their price objective on shares of Greggs from GBX 2,650 to GBX 2,500 and set a “buy” rating on the stock in a report on Thursday, October 2nd. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of GBX 1,993.33.

Greggs Stock Up 0.2%

The firm’s 50-day simple moving average is GBX 1,636.01 and its 200 day simple moving average is GBX 1,630.85. 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 £1.69 billion, a P/E ratio of 11.79, a PEG ratio of 3.39 and a beta of 1.43.

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

Insider Activity

In other news, insider Richard Hutton sold 7,438 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of GBX 1,571, for a total transaction of £116,850.98. 0.57% of the stock is currently owned by corporate 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. Greggs also offers a healthier options range which includes a selection of gluten-free, vegan-friendly and lower calorie products.