Canaccord Genuity Reaffirms “Buy” Rating for Greggs plc (GRG)

Canaccord Genuity reissued their buy rating on shares of Greggs plc (LON:GRG) in a research note released on Tuesday morning. They currently have a GBX 1,300 ($16.97) target price on the stock.

Other equities analysts have also recently issued reports about the company. Investec restated a buy rating and set a GBX 1,250 ($16.32) price target on shares of Greggs plc in a report on Tuesday, July 19th. Peel Hunt restated a buy rating and set a GBX 1,320 ($17.23) price target on shares of Greggs plc in a report on Wednesday, July 13th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of GBX 1,216.25 ($15.88).

Analyst Recommendations for Greggs plc (LON:GRG)

Greggs plc (LON:GRG) opened at 1010.70 on Tuesday. Greggs plc has a 52 week low of GBX 869.00 and a 52 week high of GBX 1,335.00. The firm has a 50-day moving average of GBX 1,040.25 and a 200-day moving average of GBX 1,050.87. The company’s market cap is GBX 1.01 billion.

The firm also recently declared a dividend, which will be paid on Friday, October 7th. Shareholders of record on Thursday, September 8th will be issued a dividend of GBX 9.50 ($0.12) per share. This represents a dividend yield of 0.91%. The ex-dividend date of this dividend is Thursday, September 8th.

In related news, insider Hutton,Richard sold 41,170 shares of the stock in a transaction on Friday, August 12th. The stock was sold at an average price of GBX 1,050 ($13.71), for a total value of £432,285 ($564,267.07).

About Greggs plc

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.

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