SSP Group (LON:SSPG) Receives “House Stock” Rating from Shore Capital

Shore Capital restated their house stock rating on shares of SSP Group (LON:SSPG) in a report published on Thursday morning, MarketBeat reports.

Several other research firms have also weighed in on SSPG. Citigroup reaffirmed a “buy” rating and issued a GBX 310 target price (down previously from GBX 330) on shares of SSP Group in a report on Monday, October 13th. Deutsche Bank Aktiengesellschaft reduced 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 190 to GBX 170 and set a “neutral” rating on the stock in a research note on Friday. Peel Hunt reaffirmed a “buy” rating and set a GBX 275 price objective on shares of SSP Group in a report on Friday, October 10th. Finally, Berenberg Bank reissued a “buy” rating and issued a GBX 190 target price on shares of SSP Group in a report on Tuesday, October 14th. 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 232.83.

SSP Group Trading Up 15.3%

SSPG stock opened at GBX 170.78 on Thursday. SSP Group has a 1-year low of GBX 134.10 and a 1-year high of GBX 196.30. The company has a current ratio of 0.44, a quick ratio of 0.66 and a debt-to-equity ratio of 852.29. The business’s 50 day moving average is GBX 156.14 and its 200-day moving average is GBX 162.69. The firm has a market cap of £1.36 billion, a P/E ratio of -56.93, a P/E/G ratio of -0.77 and a beta of 1.88.

SSP Group (LON:SSPG) last posted its earnings results on Thursday, December 4th. The company reported GBX 11 EPS for the quarter. SSP Group had a return on equity of 3.64% and a net margin of 0.24%. Equities analysts anticipate that SSP Group will post 13.1004016 earnings per share for the current fiscal year.

SSP Group declared that its Board of Directors has authorized a share buyback program on Thursday, October 9th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other news, insider Patrick Coveney bought 149,669 shares of the company’s stock in a transaction dated Thursday, December 4th. The stock was bought at an average price of GBX 168 per share, for a total transaction of £251,443.92. Also, insider Tim Lodge purchased 15,000 shares of the business’s stock in a transaction dated Thursday, December 4th. The shares were purchased at an average cost of GBX 172 per share, for a total transaction of £25,800. Insiders have purchased 182,751 shares of company stock valued at $30,814,856 over the last three months. 1.00% of the stock is 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.