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

Key Points

• SSP Group's share price has recently crossed above its 50-day moving average, trading at GBX 170.50 ($2.29) with a peak of GBX 174.70 ($2.35).
• Analysts have mixed views on the stock, with three analysts rating it as a Buy and one as a Sell, while the average target price is GBX 228.40.
• Insider Patrick Coveney sold 69,007 shares at an average price of GBX 173, indicating potential insider confidence or restructuring within the company.

SSP Group plc (LON:SSPG - Get Free Report) shares crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of GBX 161.62 ($2.17) and traded as high as GBX 174.70 ($2.35). SSP Group shares last traded at GBX 170.50 ($2.29), with a volume of 775,259 shares changing hands.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft lowered their price objective 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. UBS Group cut SSP Group to a "sell" rating and set a GBX 170 target price for the company. in a research note on Friday, July 11th. JPMorgan Chase & Co. dropped their price target on SSP Group from GBX 200 to GBX 190 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. Berenberg Bank raised shares of SSP Group to a "buy" rating and raised their price objective for the stock from GBX 180 to GBX 190 in a research report on Thursday, September 11th. Finally, Shore Capital reiterated a "house stock" rating on shares of SSP Group in a research report on Tuesday, July 29th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, SSP Group presently has an average rating of "Hold" and an average target price of GBX 228.40.

SSP Group Trading Down 0.1%

The company has a debt-to-equity ratio of 852.29, a current ratio of 0.44 and a quick ratio of 0.66. The firm has a fifty day simple moving average of GBX 161.62 and a 200-day simple moving average of GBX 161.21. The firm has a market cap of £1.37 billion, a P/E ratio of -5,676.67, a price-to-earnings-growth ratio of -0.77 and a beta of 1.88.

Insider Transactions at SSP Group

In other SSP Group news, insider Patrick Coveney sold 69,007 shares of the business's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of GBX 173, for a total transaction of £119,382.11. Over the last three months, insiders have acquired 222 shares of company stock valued at $37,444. Company insiders own 1.21% of the company's stock.

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.