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

Greggs plc (LON:GRG) has been given an average recommendation of “Hold” by the six ratings firms that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is GBX 1,089 ($14.36).

A number of brokerages have recently commented on GRG. Investec reaffirmed a “buy” rating and set a GBX 1,225 ($16.16) price objective on shares of Greggs plc in a research note on Tuesday. Berenberg Bank reaffirmed a “hold” rating and set a GBX 1,020 ($13.45) price objective on shares of Greggs plc in a research note on Wednesday, May 31st. Finally, Shore Capital reaffirmed a “hold” rating on shares of Greggs plc in a research note on Thursday, May 18th.

Greggs plc (LON:GRG) traded down 0.89% during trading on Friday, hitting GBX 1111.00. 186,581 shares of the company’s stock were exchanged. The firm’s market cap is GBX 1.11 billion. The company’s 50-day moving average price is GBX 1,093.82 and its 200 day moving average price is GBX 1,055.42. Greggs plc has a 12-month low of GBX 891.17 and a 12-month high of GBX 1,140.00.

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In related news, insider Richard Hutton purchased 449 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The shares were purchased at an average price of GBX 465 ($6.13) per share, with a total value of £2,087.85 ($2,754.06).

Greggs plc Company Profile

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.