Greggs plc (GRG) Receives Consensus Recommendation of “Hold” from Analysts

Greggs plc (LON:GRG) has earned a consensus rating of “Hold” from the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is GBX 1,296 ($17.33).

GRG has been the subject of a number of research reports. Berenberg Bank lifted their target price on Greggs from GBX 1,300 ($17.38) to GBX 1,350 ($18.05) and gave the stock a “buy” rating in a report on Thursday, October 5th. Barclays started coverage on Greggs in a research note on Monday, November 20th. They issued an “equal weight” rating and a GBX 1,405 ($18.79) price target for the company. Peel Hunt reaffirmed a “hold” rating and issued a GBX 1,200 ($16.04) price target on shares of Greggs in a research note on Tuesday, December 5th. Canaccord Genuity boosted their price target on Greggs from GBX 1,000 ($13.37) to GBX 1,300 ($17.38) and gave the company a “hold” rating in a research note on Thursday, October 12th. Finally, Shore Capital reaffirmed a “hold” rating on shares of Greggs in a research note on Tuesday, October 3rd.

In related news, insider Richard Hutton sold 24,949 shares of the business’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of GBX 1,292 ($17.28), for a total value of £322,341.08 ($430,994.89).

Shares of Greggs (LON GRG) opened at GBX 1,359 ($18.17) on Tuesday. Greggs has a 52 week low of GBX 948.50 ($12.68) and a 52 week high of GBX 1,374 ($18.37). The stock has a market capitalization of $1,370.00 and a P/E ratio of 2,613.46.

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About Greggs

Greggs plc is a United Kingdom-based bakery food on-the-go retailer. The Company’s products and services consist of a range of fresh bakery goods, sandwiches and drinks in its shop. The Company also provides frozen bakery products to its wholesale customers. The Company owns approximately 1,698 shops, 12 regional bakeries, one distribution center and one manufacturing center.

Analyst Recommendations for Greggs (LON:GRG)

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