Greggs plc (LON:GRG) Receives GBX 1,765 Average Price Target from Analysts

Shares of Greggs plc (LON:GRG) have earned a consensus recommendation of “Hold” from the seven ratings firms that are covering the company, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is GBX 1,765 ($23.06).

A number of brokerages have issued reports on GRG. HSBC raised their target price on Greggs from GBX 1,600 ($20.91) to GBX 2,000 ($26.13) and gave the stock a “hold” rating in a research note on Tuesday, May 21st. Peel Hunt raised their target price on Greggs from GBX 1,500 ($19.60) to GBX 1,800 ($23.52) and gave the stock a “hold” rating in a research note on Tuesday, May 14th. Shore Capital reaffirmed a “hold” rating on shares of Greggs in a research note on Tuesday, February 19th. Canaccord Genuity reaffirmed a “hold” rating and issued a GBX 1,730 ($22.61) target price on shares of Greggs in a research note on Thursday, March 7th. Finally, Berenberg Bank raised their target price on Greggs from GBX 1,600 ($20.91) to GBX 1,780 ($23.26) and gave the stock a “hold” rating in a research note on Friday, May 17th.

GRG stock traded up GBX 46 ($0.60) during midday trading on Friday, reaching GBX 2,246 ($29.35). The stock had a trading volume of 248,240 shares, compared to its average volume of 278,094. The firm has a market capitalization of $2.26 billion and a P/E ratio of 34.82. Greggs has a 52-week low of GBX 939 ($12.27) and a 52-week high of GBX 2,250 ($29.40).

In other Greggs news, insider Richard Hutton sold 1,150 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of GBX 1,861 ($24.32), for a total value of £21,401.50 ($27,964.85).

Greggs Company Profile

Greggs plc operates as a bakery food-on-the-go retailer in the United Kingdom. It offers a range of fresh and frozen bakery products, sandwiches, drinks, snacks, small cakes and muffins, breakfast products, and sweet bakery treats, as well as porridges, salads, and soups. The company sells its products through its shops in travel, leisure, and work-centered catchments; and franchised stores in motorway service stations and petrol forecourts.

Further Reading: Derivative

Analyst Recommendations for Greggs (LON:GRG)

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