SSP Group (LON:SSPG) Given Buy Rating at Citigroup

Key Points

• Citigroup has reaffirmed a buy rating for SSP Group (LON:SSPG) but has reduced its target price from GBX 330 to GBX 310, indicating a potential upside of 88.22%.
• SSP Group has initiated a stock buyback program as of October 9th, allowing the company to purchase its shares, which typically signifies that management believes the stock is undervalued.
• Currently, SSP Group holds an average rating of "Moderate Buy" from analysts, with a target price average of GBX 232.83, alongside mixed ratings from other analysts.

SSP Group (LON:SSPG - Get Free Report)'s stock had its "buy" rating reissued by analysts at Citigroup in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. They presently have a GBX 310 target price on the stock, down from their previous target price of GBX 330. Citigroup's target price points to a potential upside of 88.22% from the stock's previous close.

Several other research analysts also recently weighed in on the company. Deutsche Bank Aktiengesellschaft dropped their target price on SSP Group from GBX 285 to GBX 262 and set a "buy" rating on the stock in a research note on Thursday, September 25th. Peel Hunt reaffirmed a "buy" rating and issued a GBX 275 price objective on shares of SSP Group in a research report on Friday. Berenberg Bank raised shares of SSP Group to a "buy" rating and boosted their target price for the stock from GBX 180 to GBX 190 in a research report on Thursday, September 11th. JPMorgan Chase & Co. cut their price objective on shares of SSP Group from GBX 200 to GBX 190 and set a "neutral" rating for the company in a report on Thursday, August 7th. Finally, UBS Group lowered shares of SSP Group to a "sell" rating and set a GBX 170 price target on the stock. in a research note on Friday, July 11th. Four 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 stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of GBX 232.83.

SSP Group Trading Up 2.9%

SSPG stock opened at GBX 164.70 on Monday. SSP Group has a 12 month low of GBX 134.10 and a 12 month high of GBX 196.30. The company has a market capitalization of £1.32 billion, a PE ratio of -5,490.00, a P/E/G ratio of -0.77 and a beta of 1.88. The firm's 50-day moving average is GBX 160.81 and its 200 day moving average is GBX 161.75. The company has a debt-to-equity ratio of 852.29, a current ratio of 0.44 and a quick ratio of 0.66.

SSP Group declared that its board has initiated a stock buyback program on Thursday, October 9th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company's management believes its shares are undervalued.

Insider Activity at SSP Group

In related news, insider Patrick Coveney sold 69,007 shares of the company's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of GBX 173, for a total transaction of £119,382.11. Insiders own 1.00% of the company's stock.

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.

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