SSP Group (LON:SSPG) Given New GBX 225 Price Target at Berenberg Bank

Key Points

• Berenberg Bank lowered SSP Group’s price target from GBX 245 to GBX 225 while maintaining a “buy” rating, implying approximately 28.13% upside from the current share price.
• SSP Group shares opened at GBX 175.60, down 2.6%, with the stock trading between a 12-month low of GBX 137.30 and high of GBX 219.40.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating, while insider Patrick Coveney sold 91,027 shares for approximately £176,592.

SSP Group (LON:SSPG - Get Free Report) had its target price reduced by investment analysts at Berenberg Bank from GBX 245 to GBX 225 in a research note issued on Monday, Digital Look reports. The firm currently has a "buy" rating on the stock. Berenberg Bank's price objective would indicate a potential upside of 28.13% from the company's current price.

A number of other research analysts have also issued reports on the company. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a GBX 262 price objective on shares of SSP Group in a research 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 investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 807.40.

SSP Group Stock Down 2.6%

Shares of SSP Group stock opened at GBX 175.60 on Monday. The company has a current ratio of 0.37, a quick ratio of 0.66 and a debt-to-equity ratio of 36,503.12. The business's 50 day simple moving average is GBX 195.71 and its 200-day simple moving average is GBX 184.99. The stock has a market capitalization of £1.32 billion, a price-to-earnings ratio of -48.78, a PEG ratio of -0.77 and a beta of 0.91. SSP Group has a twelve month low of GBX 137.30 and a twelve month high of GBX 219.40.

Insider Transactions at SSP Group

In other SSP Group news, insider Patrick Coveney sold 91,027 shares of the business's stock in a transaction dated Friday, October 2nd. The shares were 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.

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).

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