JPMorgan Chase & Co. Issues Pessimistic Forecast for Unite Group (LON:UTG) Stock Price

Key Points

• JPMorgan cut its target for Unite Group from GBX 710 to GBX 690 while keeping an "overweight" rating, a level that would imply about a 50.85% upside from the stock's current price.
• Other brokers (Goldman Sachs, Deutsche Bank, Berenberg) have also trimmed targets, but the consensus remains a "Moderate Buy" with an average price target of GBX 730.86.
• Shares are trading around GBX 457.40 (down ~0.9%), the company has a market cap of £2.43bn and a 52-week range of GBX 442.20–884, and insider Richard Huntingford recently bought 37,985 shares at GBX 529.

Unite Group (LON:UTG - Get Free Report) had its target price decreased by analysts at JPMorgan Chase & Co. from GBX 710 to GBX 690 in a report issued on Monday,London Stock Exchange reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 50.85% from the stock's current price.

A number of other research analysts have also recently weighed in on the stock. The Goldman Sachs Group dropped their price objective on shares of Unite Group from GBX 680 to GBX 620 and set a "buy" rating for the company in a report on Monday, March 30th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Unite Group from GBX 700 to GBX 640 and set a "buy" rating for the company in a report on Friday, March 20th. Berenberg Bank dropped their price objective on shares of Unite Group from GBX 855 to GBX 774 and set a "buy" rating on the stock in a research report on Monday, January 26th. Finally, Jefferies Financial Group reissued a "hold" rating and issued a GBX 512 price objective on shares of Unite Group in a research report on Friday. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of GBX 730.86.

Unite Group Trading Down 0.9%

Shares of UTG stock opened at GBX 457.40 on Monday. The company has a debt-to-equity ratio of 29.55, a quick ratio of 0.73 and a current ratio of 29.97. The stock has a market capitalization of £2.43 billion, a P/E ratio of 22.98, a price-to-earnings-growth ratio of 3.20 and a beta of 0.96. The company has a 50 day moving average price of GBX 509.59 and a 200 day moving average price of GBX 551.42. Unite Group has a fifty-two week low of GBX 442.20 and a fifty-two week high of GBX 884.

Unite Group (LON:UTG - Get Free Report) last announced its quarterly earnings data on Tuesday, February 24th. The company reported GBX 47.50 earnings per share for the quarter. Unite Group had a net margin of 30.06% and a return on equity of 2.03%. Equities research analysts predict that Unite Group will post 47.9341004 EPS for the current fiscal year.

Insider Activity at Unite Group

In other news, insider Richard N. L. Huntingford acquired 37,985 shares of the company's stock in a transaction on Tuesday, February 24th. The shares were bought at an average cost of GBX 529 per share, with a total value of £200,940.65. Corporate insiders own 0.77% of the company's stock.

Unite Group Company Profile

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.

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