SSP Group (LON:SSPG) Receives "Buy" Rating from Peel Hunt

Key Points

• Peel Hunt has restated its "buy" rating for SSP Group with a price target of GBX 275, signaling a potential upside of 71.77% from the current stock price.
• SSP Group's stock is currently experiencing volatility, recently trading down 1.3% to GBX 160.10, with a market cap of £1.28 billion.
• The company has approved a stock repurchase plan as a sign of confidence in its undervalued shares, though insiders have recently sold shares, indicating mixed signals.

SSP Group (LON:SSPG - Get Free Report)'s stock had its "buy" rating restated by equities researchers at Peel Hunt in a report issued on Friday,Digital Look reports. They currently have a GBX 275 price target on the stock. Peel Hunt's price objective indicates a potential upside of 71.77% from the company's previous close.

Other research analysts also recently issued reports about the company. UBS Group downgraded SSP Group to a "sell" rating and set a GBX 170 target price for the company. in a research note on Friday, July 11th. Deutsche Bank Aktiengesellschaft lowered their price target on SSP Group from GBX 285 to GBX 262 and set a "buy" rating for the company in a report on Thursday, September 25th. JPMorgan Chase & Co. lowered their price target on SSP Group from GBX 200 to GBX 190 and set a "neutral" rating for the company in a report on Thursday, August 7th. Shore Capital reissued a "house stock" rating on shares of SSP Group in a report on Thursday. Finally, Berenberg Bank raised SSP Group to a "buy" rating and upped their target price for the stock from GBX 180 to GBX 190 in a report on Thursday, September 11th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of GBX 236.17.

SSP Group Stock Down 1.3%

Shares of LON:SSPG traded down GBX 2.10 during trading on Friday, hitting GBX 160.10. 1,887,812 shares of the company were exchanged, compared to its average volume of 3,029,508. The stock has a market cap of £1.28 billion, a price-to-earnings ratio of -5,336.67, a P/E/G ratio of -0.77 and a beta of 1.88. SSP Group has a fifty-two week low of GBX 134.10 and a fifty-two week high of GBX 196.30. The firm has a fifty day moving average price of GBX 160.95 and a two-hundred day moving average price of GBX 161.63. The company has a current ratio of 0.44, a quick ratio of 0.66 and a debt-to-equity ratio of 852.29.

SSP Group announced that its Board of Directors has approved a stock repurchase plan on Thursday, October 9th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors 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 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 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.

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