SSP Group (LON:SSPG) Price Target Raised to GBX 350

SSP Group (LON:SSPG) had its target price lifted by Citigroup from GBX 310 to GBX 350 in a research note published on Thursday, MarketBeat.com reports. Citigroup currently has a buy rating on the stock.

Other analysts also recently issued reports about the company. Shore Capital reiterated a “house stock” rating on shares of SSP Group in a research report on Thursday, December 4th. Berenberg Bank reiterated a “buy” rating and issued a GBX 190 target price on shares of SSP Group in a research note on Tuesday, October 14th. JPMorgan Chase & Co. cut their price target 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. Peel Hunt reiterated a “buy” rating and issued a GBX 275 price target on shares of SSP Group in a report on Friday, October 10th. Finally, Deutsche Bank Aktiengesellschaft dropped 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 note 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.com, SSP Group has an average rating of “Moderate Buy” and a consensus target price of GBX 237.83.

SSP Group Stock Performance

LON SSPG opened at GBX 192.30 on Thursday. The stock has a market capitalization of £1.53 billion, a price-to-earnings ratio of -20.68, a PEG ratio of -0.77 and a beta of 1.88. The business’s 50 day moving average is GBX 177.86 and its two-hundred day moving average is GBX 168.94. SSP Group has a 12-month low of GBX 134.10 and a 12-month high of GBX 212.20. The company has a current ratio of 0.44, a quick ratio of 0.66 and a debt-to-equity ratio of 852.29.

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 return on equity of 3.64% and a net margin of 0.24%. Research analysts expect that SSP Group will post 13.1004016 EPS for the current year.

SSP Group announced that its board has initiated a share buyback plan on Thursday, October 9th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other SSP Group news, insider Patrick Coveney bought 149,669 shares of the stock in a transaction on Thursday, December 4th. The shares were purchased at an average cost of GBX 168 per share, with a total value of £251,443.92. Also, insider Tim Lodge acquired 15,000 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The stock was bought at an average cost of GBX 172 per share, for a total transaction of £25,800. Insiders acquired 227,675 shares of company stock valued at $38,884,478 in the last ninety days. Corporate 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).