SSP Group (LON:SSPG) Receives Buy Rating from Citigroup

Citigroup reaffirmed their buy rating on shares of SSP Group (LON:SSPG) in a research note released on Monday morning, MarketBeat Ratings reports. Citigroup currently has a GBX 310 price objective on the stock, down from their prior price objective of GBX 330.

Several other research analysts also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of SSP Group from GBX 285 to GBX 262 and set a “buy” rating on the stock in a research report on Thursday, September 25th. JPMorgan Chase & Co. decreased their price objective on shares of SSP Group from GBX 200 to GBX 190 and set a “neutral” rating on the stock in a research report on Thursday, August 7th. Peel Hunt restated a “buy” rating and set a GBX 275 price objective on shares of SSP Group in a research report on Friday. UBS Group downgraded shares of SSP Group to a “sell” rating and set a GBX 170 price objective on the stock. in a research report on Friday, July 11th. Finally, Shore Capital restated a “house stock” rating on shares of SSP Group in a research report on Thursday, October 9th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, SSP Group presently has a consensus rating of “Moderate Buy” and an average target price of GBX 232.83.

SSP Group Stock Up 1.7%

SSPG opened at GBX 162.80 on Monday. The company has a current ratio of 0.44, a quick ratio of 0.66 and a debt-to-equity ratio of 852.29. SSP Group has a 1-year low of GBX 134.10 and a 1-year high of GBX 196.30. The company has a market capitalization of £1.31 billion, a PE ratio of -5,426.67, a PEG ratio of -0.77 and a beta of 1.88. The firm’s 50 day simple moving average is GBX 160.67 and its two-hundred day simple moving average is GBX 161.81.

SSP Group announced that its Board of Directors has initiated a share repurchase plan on Thursday, October 9th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Transactions at SSP Group

In other SSP Group news, insider Patrick Coveney sold 69,007 shares of SSP Group stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of GBX 173, for a total value of £119,382.11. Corporate insiders own 1.00% of the company’s stock.

SSP Group Company Profile

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.