Berenberg Bank Issues Pessimistic Forecast for SSP Group (LON:SSPG) Stock Price

SSP Group (LON:SSPG) had its price target dropped by analysts at Berenberg Bank from GBX 245 to GBX 225 in a note issued to investors on Monday, Digital Look reports. The brokerage currently has a “buy” rating on the stock. Berenberg Bank’s target price suggests a potential upside of 29.24% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 262 price objective on shares of SSP Group in a report on Monday, August 17th. Shore Capital Group reaffirmed a “house stock” rating on shares of SSP Group in a research report on Tuesday, July 28th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 807.40.

SSP Group Stock Performance

Shares of LON SSPG opened at GBX 174.10 on Monday. The company has a market capitalization of £1.31 billion, a P/E ratio of -48.36, a price-to-earnings-growth ratio of -0.77 and a beta of 0.91. The business’s 50-day moving average price is GBX 194.40 and its two-hundred day moving average price is GBX 184.95. SSP Group has a one year low of GBX 137.30 and a one year high of GBX 219.40. The company has a debt-to-equity ratio of 36,503.12, a current ratio of 0.37 and a quick ratio of 0.66.

Insider Activity at SSP Group

In related news, insider Patrick Coveney sold 91,027 shares of the stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of GBX 194, for a total transaction of £176,592.38. 1.12% of the stock is 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).