SSP Group’s (SSPG) “House Stock” Rating Reiterated at Shore Capital

Shore Capital reiterated their house stock rating on shares of SSP Group (LON:SSPG) in a report released on Wednesday, MarketBeat.com reports.

Several other research analysts also recently issued reports on the stock. Citigroup restated a “buy” rating and set a GBX 310 price objective (down previously from GBX 330) on shares of SSP Group in a report on Monday, October 13th. Berenberg Bank reissued a “buy” rating and set a GBX 190 target price on shares of SSP Group in a research report on Tuesday, October 14th. Peel Hunt reaffirmed a “buy” rating and issued a GBX 275 price target on shares of SSP Group in a report on Friday, October 10th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of SSP Group in a research report on Friday, October 31st. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on SSP Group from GBX 285 to GBX 262 and set a “buy” rating on the stock in a report on Thursday, September 25th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of GBX 232.83.

SSP Group Trading Down 2.5%

Shares of SSPG stock opened at GBX 151.51 on Wednesday. SSP Group has a 1 year low of GBX 134.10 and a 1 year high of GBX 196.30. The firm’s fifty day simple moving average is GBX 156.46 and its 200 day simple moving average is GBX 163.02. The firm has a market capitalization of £1.21 billion, a P/E ratio of -50.50, a price-to-earnings-growth ratio of -0.77 and a beta of 1.88. 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 announced that its Board of Directors has approved a stock buyback plan on Thursday, October 9th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at SSP Group

In other SSP Group news, insider Patrick Coveney sold 69,007 shares of SSP Group stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of GBX 173, for a total transaction of £119,382.11. 1.00% of the stock is owned by corporate insiders.

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.