Berenberg Bank Lowers Greggs (LON:GRG) Price Target to GBX 3,250

Greggs (LON:GRG) had its price objective dropped by investment analysts at Berenberg Bank from GBX 3,420 ($44.07) to GBX 3,250 ($41.88) in a note issued to investors on Wednesday, MarketBeat reports. The brokerage currently has a “buy” rating on the stock. Berenberg Bank’s price target points to a potential upside of 83.22% from the stock’s current price.

Greggs Stock Performance

Greggs stock opened at GBX 1,773.87 ($22.86) on Wednesday. Greggs has a twelve month low of GBX 1,755 ($22.62) and a twelve month high of GBX 3,250 ($41.88). The company has a quick ratio of 0.88, a current ratio of 0.80 and a debt-to-equity ratio of 66.19. The company has a market capitalization of £1.79 billion, a P/E ratio of 13.16, a PEG ratio of 3.39 and a beta of 1.43. The stock’s 50 day moving average is GBX 2,222.34 and its 200 day moving average is GBX 2,660.85.

Greggs (LON:GRG) last released its earnings results on Tuesday, March 4th. The company reported GBX 150.70 ($1.94) EPS for the quarter. Greggs had a return on equity of 26.79% and a net margin of 7.13%. On average, equities research analysts predict that Greggs will post 142.3763386 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Greggs news, insider Nigel Mills purchased 925 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was purchased at an average price of GBX 2,149 ($27.69) per share, for a total transaction of £19,878.25 ($25,616.30). Corporate insiders own 5.89% of the company’s stock.

About Greggs

Greggs is a leading UK food-on-the-go retailer with more than 2,400 shops nationwide and approximately 32,000 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.