Unite Group (LON:UTG) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Unite Group PLC (LON:UTG)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 514.70 and traded as high as GBX 560. Unite Group shares last traded at GBX 557.50, with a volume of 1,626,170 shares traded.

Analyst Ratings Changes

Several brokerages have issued reports on UTG. The Goldman Sachs Group decreased their price target on shares of Unite Group from GBX 680 to GBX 620 and set a “buy” rating for the company in a research report on Monday, March 30th. JPMorgan Chase & Co. cut their price target on shares of Unite Group from GBX 710 to GBX 690 and set an “overweight” rating on the stock in a report on Monday, April 13th. Jefferies Financial Group reissued a “hold” rating and issued a GBX 481 price objective on shares of Unite Group in a research note on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 640 price objective on shares of Unite Group in a report on Tuesday, May 12th. Finally, Berenberg Bank reaffirmed a “buy” rating and set a GBX 623 target price on shares of Unite Group in a research report on Wednesday, July 8th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Unite Group currently has an average rating of “Moderate Buy” and an average price target of GBX 689.88.

Unite Group Price Performance

The company has a debt-to-equity ratio of 29.55, a quick ratio of 0.73 and a current ratio of 29.97. The business has a 50 day moving average price of GBX 519.35 and a 200-day moving average price of GBX 514.70. The company has a market capitalization of £2.86 billion, a price-to-earnings ratio of 28.02, a P/E/G ratio of 3.20 and a beta of 0.95.

About Unite Group

Unite Students is the UK’s largest owner, manager and developer of purpose-built student accommodation, serving the country’s world-leading Higher Education sector. We provide homes to 70,000 students across 157 properties in 23 leading university towns and cities. We currently partner with over 60 universities across the UK.

Our people are driven by a common purpose: to provide a ‘Home for Success’ for the students who live with us. Unite’s accommodation is safe and secure, high quality and affordable.