Greggs (LON:GRG) Shares Down 13.5% - Here's What Happened

Greggs plc (LON:GRG - Get Free Report) shares dropped 13.5% on Tuesday . The stock traded as low as GBX 1,779 ($22.90) and last traded at GBX 1,800.83 ($23.19). Approximately 2,251,119 shares changed hands during mid-day trading, an increase of 86% from the average daily volume of 1,211,495 shares. The stock had previously closed at GBX 2,082 ($26.81).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank cut their target price on shares of Greggs from GBX 3,420 ($44.03) to GBX 3,250 ($41.84) and set a "buy" rating on the stock in a research note on Wednesday, March 5th.

Greggs Price Performance

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 50 day moving average of GBX 2,204.48 and a 200-day moving average of GBX 2,651.97. The stock has a market capitalization of £1.87 billion, a P/E ratio of 13.74, a PEG ratio of 3.39 and a beta of 1.43.

Greggs (LON:GRG - Get Free Report) last posted its quarterly earnings results on Tuesday, March 4th. The company reported GBX 150.70 ($1.94) EPS for the quarter. Greggs had a net margin of 7.13% and a return on equity of 26.79%. Sell-side analysts predict that Greggs plc will post 142.3763386 EPS for the current year.

Insider Buying and Selling at Greggs

In other Greggs news, insider Nigel Mills purchased 925 shares of the business's stock in a transaction dated Friday, January 10th. The shares were bought at an average price of GBX 2,149 ($27.67) per share, with a total value of £19,878.25 ($25,593.21). 5.89% of the stock is currently owned by insiders.

Remove Ads

Greggs Company Profile

Greggs is a leading UK food-on-the-go retailer with more than 2,600 shops nationwide and approximately 33,000 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.