SSP Group (LON:SSPG) Stock Price Up 14.4% After Dividend Announcement

SSP Group plc (LON:SSPG)’s stock price rose 14.4% on Thursday following a dividend announcement from the company. The stock traded as high as GBX 170.70 and last traded at GBX 169.43. Approximately 7,367,625 shares changed hands during trading, an increase of 116% from the average daily volume of 3,416,653 shares. The stock had previously closed at GBX 148.10.

Analyst Ratings Changes

SSPG has been the subject of several recent research reports. Peel Hunt reissued a “buy” rating and set a GBX 275 target price on shares of SSP Group in a report on Friday, October 10th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 190 price target on shares of SSP Group in a research report on Tuesday, October 14th. Shore Capital reissued a “house stock” rating on shares of SSP Group in a report on Wednesday, November 26th. Citigroup restated a “buy” rating and issued a GBX 310 target price (down previously from GBX 330) on shares of SSP Group in a research note on Monday, October 13th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on SSP Group from GBX 285 to GBX 262 and set a “buy” rating on the stock in a report on Thursday, September 25th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of GBX 232.83.

SSP Group Stock Up 14.8%

The company has a quick ratio of 0.66, a current ratio of 0.44 and a debt-to-equity ratio of 852.29. The business has a 50-day simple moving average of GBX 156.06 and a 200-day simple moving average of GBX 162.64. The company has a market cap of £1.36 billion, a PE ratio of -56.67, a P/E/G ratio of -0.77 and a beta of 1.88.

SSP Group announced that its Board of Directors has approved a stock repurchase program on Thursday, October 9th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Insider Transactions at SSP Group

In other news, insider Patrick Coveney sold 69,007 shares of SSP Group stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of GBX 173, for a total value of £119,382.11. 1.00% of the stock is currently owned by insiders.

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.