JPMorgan Chase & Co. Has Lowered Expectations for Greggs (LON:GRG) Stock Price

Greggs (LON:GRG) had its target price lowered by investment analysts at JPMorgan Chase & Co. from GBX 2,060 to GBX 2,050 in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 22.32% from the company’s previous close.

Several other brokerages have also commented on GRG. Berenberg Bank lowered their price objective on shares of Greggs from GBX 2,640 to GBX 2,170 and set a “buy” rating on the stock in a research report on Thursday, January 8th. Jefferies Financial Group lowered shares of Greggs to a “hold” rating and decreased their price target for the stock from GBX 2,500 to GBX 1,610 in a research note on Monday, February 9th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of GBX 1,835.

Greggs Stock Performance

Shares of GRG opened at GBX 1,676 on Wednesday. The firm has a market capitalization of £1.71 billion, a P/E ratio of 11.88, a P/E/G ratio of 3.39 and a beta of 1.28. Greggs has a 52 week low of GBX 1,407.20 and a 52 week high of GBX 2,237.88. The stock has a 50 day moving average price of GBX 1,641.63 and a two-hundred day moving average price of GBX 1,621.74. The company has a debt-to-equity ratio of 75.94, a quick ratio of 0.88 and a current ratio of 0.56.

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

About Greggs

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.