SSP Group (LON:SSPG) Earns House Stock Rating from Shore Capital

Key Points

• SSP Group has been reissued a "house stock" rating by Shore Capital, indicating confidence in its investment potential.
• Recent price targets for SSP Group's stock vary among analysts, with Citigroup raising its target to GBX 330 while UBS set a target of GBX 170.
• SSP Group's shares decreased by 2.6%, falling to GBX 162.20, with an average trading volume significantly surpassed on that day.

SSP Group (LON:SSPG - Get Free Report)'s stock had its "house stock" rating reissued by equities researchers at Shore Capital in a research report issued to clients and investors on Thursday,Digital Look reports.

Several other research analysts have also recently issued reports on SSPG. Citigroup upped their price objective on SSP Group from GBX 320 to GBX 330 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. decreased their target price on SSP Group from GBX 200 to GBX 190 and set a "neutral" rating for the company in a research report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft decreased their target price on SSP Group from GBX 285 to GBX 262 and set a "buy" rating for the company in a research report on Thursday, September 25th. Berenberg Bank raised SSP Group to a "buy" rating and upped their target price for the company from GBX 180 to GBX 190 in a research report on Thursday, September 11th. Finally, UBS Group cut SSP Group to a "sell" rating and set a GBX 170 target price for the company. in a research report on Friday, July 11th. Three investment 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. According to data from MarketBeat.com, SSP Group currently has an average rating of "Hold" and an average price target of GBX 228.40.

SSP Group Stock Down 2.6%

Shares of LON:SSPG traded down GBX 4.40 on Thursday, hitting GBX 162.20. 10,602,407 shares of the company's stock were exchanged, compared to its average volume of 3,035,331. The firm's 50-day moving average is GBX 161.13 and its 200 day moving average is GBX 161.56. The company has a market capitalization of £1.30 billion, a PE ratio of -5,406.67, a P/E/G ratio of -0.77 and a beta of 1.88. SSP Group has a 1-year low of GBX 134.10 and a 1-year high of GBX 196.30. The company has a debt-to-equity ratio of 852.29, a quick ratio of 0.66 and a current ratio of 0.44.

Insider Activity at SSP Group

In other SSP Group news, insider Patrick Coveney sold 69,007 shares of the business's stock in a transaction dated 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 currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.