SSP Group (LON:SSPG) Stock Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• SSP Group shares crossed above their 200-day moving average, reaching GBX 187.30 before closing at GBX 185.80 on volume of approximately 2.92 million shares.
• Analysts maintain a generally positive view: three rate the stock “Buy” and two “Hold,” resulting in a “Moderate Buy” consensus. Berenberg cut its price target to GBX 225, while Deutsche Bank retained a GBX 262 target.
• Insider Patrick Coveney sold 91,027 shares at an average GBX 194 for approximately £176,592; corporate insiders own 1.12% of the company.

SSP Group plc (LON:SSPG - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of GBX 185.59 and traded as high as GBX 187.30. SSP Group shares last traded at GBX 185.80, with a volume of 2,920,270 shares.

Analyst Upgrades and Downgrades

SSPG has been the topic of several research analyst reports. Shore Capital Group reaffirmed a "house stock" rating on shares of SSP Group in a research note on Tuesday, July 28th. Berenberg Bank lowered their price target on SSP Group from GBX 245 to GBX 225 and set a "buy" rating on the stock in a report on Monday, October 12th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a GBX 262 price objective on shares of SSP Group in a report on Monday, August 17th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of GBX 807.40.

SSP Group Price Performance

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. The company's 50-day simple moving average is GBX 187.87 and its 200-day simple moving average is GBX 185.59. The stock has a market capitalization of £1.40 billion, a P/E ratio of -51.61, a price-to-earnings-growth ratio of -0.77 and a beta of 0.91.

Insiders Place Their Bets

In related news, insider Patrick Coveney sold 91,027 shares of the business's stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of GBX 194, for a total value of £176,592.38. 1.12% of the stock is owned by corporate 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).

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