SSP Group (LON:SSPG) Price Target Lowered to GBX 350 at Citigroup

SSP Group (LON:SSPG) had its price objective lowered by Citigroup from GBX 360 to GBX 350 in a report issued on Monday morning, MarketBeat.com reports. The firm currently has a buy rating on the stock.

SSPG has been the topic of a number of other reports. JPMorgan Chase & Co. dropped 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, December 12th. Berenberg Bank restated a “buy” rating and issued a GBX 230 target price on shares of SSP Group in a report on Monday, January 19th. UBS Group reaffirmed a “neutral” rating and issued a GBX 180 price target on shares of SSP Group in a research report on Friday, January 16th. Peel Hunt reissued a “buy” rating and set a GBX 275 price objective on shares of SSP Group in a report on Friday, October 10th. Finally, Shore Capital reissued a “house stock” rating on shares of SSP Group in a research note on Monday, January 19th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of GBX 244.50.

SSP Group Trading Down 4.1%

LON SSPG opened at GBX 189.50 on Monday. The company has a market cap of £1.50 billion, a price-to-earnings ratio of -20.38, a P/E/G ratio of -0.77 and a beta of 1.88. SSP Group has a 52 week low of GBX 134.10 and a 52 week high of GBX 212.20. The business has a 50 day moving average price of GBX 183.37 and a 200-day moving average price of GBX 169.02. The company has a quick ratio of 0.66, a current ratio of 0.44 and a debt-to-equity ratio of 852.29.

SSP Group (LON:SSPG) last issued its earnings results on Thursday, December 4th. The company reported GBX 11 earnings per share (EPS) for the quarter. SSP Group had a return on equity of 3.64% and a net margin of 0.24%. As a group, equities analysts expect 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 repurchase program on Thursday, October 9th that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at SSP Group

In related news, insider Patrick Coveney sold 136,379 shares of SSP Group stock in a transaction on Monday, December 8th. The stock was sold at an average price of GBX 174, for a total transaction of £237,299.46. Also, insider Tim Lodge acquired 15,000 shares of the business’s stock in a transaction on Thursday, December 4th. The stock was acquired at an average cost of GBX 172 per share, for a total transaction of £25,800. Insiders bought a total of 227,675 shares of company stock valued at $38,884,478 in the last ninety days. Insiders own 1.01% 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. These include our own brands (such as UrbanCrave, which brought the first “street eats” concept to airports in the US, Nippon Ramen, a noodle and dumpling concept in the Asia Pac region, and Juniper, a premium bar in the UK) as well as franchise brands (such as M&S, Starbucks and Burger King).