Shore Capital Reiterates “House Stock” Rating for SSP Group (LON:SSPG)

SSP Group (LON:SSPG)‘s stock had its “house stock” rating reaffirmed by equities researchers at Shore Capital in a research note issued on Thursday, Marketbeat.com reports.

A number of other research analysts have also commented on SSPG. Berenberg Bank upgraded SSP Group to a “buy” rating and increased their price objective for the company from GBX 180 to GBX 190 in a research report on Thursday, September 11th. Citigroup lifted their price objective on SSP Group from GBX 320 to GBX 330 and gave the stock a “buy” rating in a research note on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft decreased their price objective on SSP Group from GBX 285 to GBX 262 and set a “buy” rating for the company in a research note on Thursday, September 25th. UBS Group cut SSP Group to a “sell” rating and set a GBX 170 price objective for the company. in a research note on Friday, July 11th. Finally, JPMorgan Chase & Co. decreased their price objective on SSP Group from GBX 200 to GBX 190 and set a “neutral” rating for the company in a research note on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of GBX 236.17.

SSP Group Stock Down 1.3%

Shares of SSPG opened at GBX 160.10 on Thursday. The firm has a market capitalization of £1.28 billion, a price-to-earnings ratio of -5,336.67, a PEG ratio of -0.77 and a beta of 1.88. The company has a debt-to-equity ratio of 852.29, a quick ratio of 0.66 and a current ratio of 0.44. The business’s fifty day moving average price is GBX 160.81 and its two-hundred day moving average price is GBX 161.66. SSP Group has a 52 week low of GBX 134.10 and a 52 week high of GBX 196.30.

SSP Group announced that its Board of Directors has approved a stock buyback program on Thursday, October 9th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Patrick Coveney sold 69,007 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of GBX 173, for a total transaction of £119,382.11. Insiders own 1.00% of the company’s stock.

About SSP Group

SSP is a leading operator of food and beverage outlets in travel locations worldwide, with c.37,000 colleagues in over 600 locations across 36 countries. We operate sit-down and quick service restaurants, cafes, lounges and food-led convenience stores, principally in airports and train stations, with a portfolio of more than 550 international, national and local brands.