Berenberg Bank Reaffirms “Buy” Rating for SSP Group (LON:SSPG)

SSP Group (LON:SSPG)‘s stock had its “buy” rating reiterated by analysts at Berenberg Bank in a research note issued on Monday, MarketBeat.com reports. They currently have a GBX 230 price target on the stock. Berenberg Bank’s target price would indicate a potential upside of 19.79% from the company’s previous close.

A number of other research analysts also recently issued reports on SSPG. Peel Hunt reaffirmed a “buy” rating and set a GBX 275 price target on shares of SSP Group in a report on Friday, October 10th. UBS Group reissued a “neutral” rating and issued a GBX 180 target price on shares of SSP Group in a research report on Friday, January 16th. JPMorgan Chase & Co. dropped their price target on shares of SSP Group from GBX 190 to GBX 170 and set a “neutral” rating on the stock in a report on Friday, December 12th. Citigroup lifted their price target on shares of SSP Group from GBX 310 to GBX 350 and gave the stock a “buy” rating in a research note on Thursday, January 15th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective 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. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, SSP Group has an average rating of “Moderate Buy” and an average target price of GBX 244.50.

SSP Group Trading Up 0.8%

LON:SSPG opened at GBX 192 on Monday. The stock has a market cap of £1.52 billion, a price-to-earnings ratio of -20.65, a PEG ratio of -0.77 and a beta of 1.88. 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 company’s 50 day moving average price is GBX 179.61 and its 200-day moving average price is GBX 168.87. SSP Group has a 52 week low of GBX 134.10 and a 52 week high of GBX 212.20.

SSP Group (LON:SSPG) last announced its quarterly earnings data on Thursday, December 4th. The company reported GBX 11 earnings per share for the quarter. SSP Group had a net margin of 0.24% and a return on equity of 3.64%. On average, equities research analysts forecast that SSP Group will post 13.1004016 earnings per share for the current fiscal year.

SSP Group declared that its board has approved a stock repurchase program on Thursday, October 9th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at SSP Group

In other news, insider Apurvi Sheth purchased 4,000 shares of the stock in a transaction on Friday, December 5th. The shares were acquired at an average price of GBX 165 per share, with a total value of £6,600. Also, insider Karina Deacon purchased 18,000 shares of the company’s stock in a transaction on Thursday, December 4th. The stock was purchased at an average price of GBX 171 per share, with a total value of £30,780. Insiders purchased a total of 227,675 shares of company stock worth $38,884,478 in the last quarter. 1.01% of the stock is currently owned by insiders.

About SSP Group

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).