Greggs (LON:GRG) Lifted to Hold at HSBC

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HSBC upgraded shares of Greggs (LON:GRG) to a hold rating in a research note published on Wednesday, ThisIsMoney.Co.Uk reports.

Several other equities research analysts have also commented on GRG. Jefferies Financial Group assumed coverage on shares of Greggs in a research note on Thursday, May 28th. They set a buy rating and a GBX 2,375 ($30.23) price objective on the stock. Berenberg Bank upgraded shares of Greggs to a buy rating and upped their target price for the stock from GBX 1,700 ($21.64) to GBX 1,860 ($23.67) in a research note on Tuesday, May 19th. Peel Hunt downgraded shares of Greggs to a sell rating in a research note on Thursday, May 28th. Shore Capital downgraded shares of Greggs to a sell rating in a research note on Monday, May 4th. Finally, UBS Group reiterated a buy rating on shares of Greggs in a research note on Wednesday, March 25th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of Hold and an average price target of GBX 2,076.43 ($26.43).

LON:GRG traded down GBX 46.49 ($0.59) during mid-day trading on Wednesday, hitting GBX 1,684 ($21.43). 450,212 shares of the company’s stock were exchanged, compared to its average volume of 278,094. Greggs has a one year low of GBX 1,276.50 ($16.25) and a one year high of GBX 2,550 ($32.46). The company has a debt-to-equity ratio of 79.50, a current ratio of 0.68 and a quick ratio of 0.54. The business has a fifty day moving average price of GBX 1,721.72 and a 200 day moving average price of GBX 1,999.12. The company has a market cap of $1.70 billion and a PE ratio of 19.81.

In related news, insider Richard Hutton purchased 169 shares of Greggs stock in a transaction that occurred on Monday, June 1st. The shares were bought at an average price of GBX 807 ($10.27) per share, with a total value of £1,363.83 ($1,735.82). Also, insider Roger Whiteside purchased 11,251 shares of Greggs stock in a transaction that occurred on Wednesday, March 25th. The stock was bought at an average cost of GBX 1,589 ($20.22) per share, for a total transaction of £178,778.39 ($227,540.27). In the last three months, insiders bought 11,540 shares of company stock worth $18,194,582.

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.

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Analyst Recommendations for Greggs (LON:GRG)

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