Greggs (LON:GRG) Shares Pass Above 200 Day Moving Average of $2,108.02

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Greggs plc (LON:GRG)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2,108.02 and traded as high as $2,464.00. Greggs shares last traded at $2,440.00, with a volume of 249,249 shares.

GRG has been the subject of several research reports. Canaccord Genuity increased their price target on shares of Greggs from GBX 2,050 ($26.97) to GBX 2,100 ($27.62) and gave the company a “hold” rating in a research report on Monday, November 11th. Berenberg Bank reaffirmed a “hold” rating on shares of Greggs in a research report on Friday, January 17th. Peel Hunt reaffirmed a “reduce” rating on shares of Greggs in a research report on Wednesday, January 8th. HSBC cut shares of Greggs to a “reduce” rating in a research note on Wednesday, January 29th. Finally, Shore Capital reissued a “hold” rating on shares of Greggs in a research report on Friday, February 14th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of GBX 2,040 ($26.84).

The firm has a market capitalization of $2.47 billion and a PE ratio of 32.80. The stock has a 50-day simple moving average of GBX 2,355 and a 200-day simple moving average of GBX 2,108.30. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 82.57.

About Greggs (LON:GRG)

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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