Unite Group (LON:UTG) Stock Crosses Above 200 Day Moving Average – What’s Next?

Unite Group PLC (LON:UTG)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 516.96 and traded as high as GBX 532.50. Unite Group shares last traded at GBX 528, with a volume of 92,666,797 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on UTG. Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 481 price objective on shares of Unite Group in a research report on Tuesday, May 12th. The Goldman Sachs Group lowered their price objective 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. lowered their price objective on shares of Unite Group from GBX 710 to GBX 690 and set an “overweight” rating for the company in a research report on Monday, April 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 640 price objective on shares of Unite Group in a research report on Tuesday, May 12th. Five 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, the stock presently has an average rating of “Moderate Buy” and an average target price of GBX 726.43.

Unite Group Trading Up 0.2%

The company has a current ratio of 29.97, a quick ratio of 0.73 and a debt-to-equity ratio of 29.55. The stock has a market cap of £2.75 billion, a P/E ratio of 26.53, a PEG ratio of 3.20 and a beta of 0.95. The firm’s 50-day simple moving average is GBX 487.39 and its 200 day simple moving average is GBX 516.96.

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.