Greggs (LON:GRG) Stock Price Down 13.5% – Here’s Why

Greggs plc (LON:GRG)’s stock price dropped 13.5% on Tuesday . The company traded as low as GBX 1,779 ($22.61) and last traded at GBX 1,800.83 ($22.89). Approximately 2,251,119 shares were traded during trading, an increase of 86% from the average daily volume of 1,211,495 shares. The stock had previously closed at GBX 2,082 ($26.46).

Greggs Trading Down 12.4 %

The business has a fifty day moving average of GBX 2,279.30 and a 200-day moving average of GBX 2,688.47. The company has a debt-to-equity ratio of 66.19, a quick ratio of 0.88 and a current ratio of 0.80. The company has a market capitalization of £1.84 billion, a P/E ratio of 13.53, a PEG ratio of 3.39 and a beta of 1.43.

Greggs (LON:GRG) last released its quarterly earnings data on Tuesday, March 4th. The company reported GBX 150.70 ($1.92) earnings per share for the quarter. Greggs had a net margin of 7.13% and a return on equity of 26.79%. Analysts anticipate that Greggs plc will post 142.3763386 earnings per share for the current fiscal year.

Insider Buying and Selling at Greggs

In other news, insider Nigel Mills purchased 925 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were bought at an average cost of GBX 2,149 ($27.31) per share, with a total value of £19,878.25 ($25,261.47). Company insiders own 5.89% of the company’s stock.

Greggs Company Profile

Greggs is a leading UK food-on-the-go retailer with more than 2,400 shops nationwide and approximately 32,000 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.