SSP Group (LON:SSPG) Shares Pass Below 50-Day Moving Average - Here's Why

Key Points

• SSP Group's shares fell below their fifty-day moving average, with recent trading at GBX 160.60.
• Analysts have mixed ratings on SSP Group, with a consensus of "Moderate Buy" and an average target price of GBX 232.83.
• The company's board authorized a stock buyback plan, typically indicating that they believe the stock is undervalued.

SSP Group plc (LON:SSPG - Get Free Report)'s share price crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of GBX 159.90 ($2.14) and traded as low as GBX 157.70 ($2.11). SSP Group shares last traded at GBX 160.60 ($2.15), with a volume of 1,644,668 shares.

Wall Street Analyst Weigh In

A number of analysts have commented on SSPG shares. Peel Hunt reissued a "buy" rating and issued a GBX 275 target price on shares of SSP Group in a report on Friday, October 10th. Deutsche Bank Aktiengesellschaft reduced their target price on SSP Group from GBX 285 to GBX 262 and set a "buy" rating for the company in a report on Thursday, September 25th. UBS Group lowered SSP Group to a "sell" rating and set a GBX 170 target price for the company. in a report on Friday, July 11th. Berenberg Bank reissued a "buy" rating and issued a GBX 190 target price on shares of SSP Group in a report on Tuesday, October 14th. Finally, Shore Capital reissued a "house stock" rating on shares of SSP Group in a report on Thursday, October 9th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of GBX 232.83.

SSP Group Stock Up 0.1%

The company has a quick ratio of 0.66, a current ratio of 0.44 and a debt-to-equity ratio of 852.29. The company has a market cap of £1.29 billion, a P/E ratio of -53.60, a price-to-earnings-growth ratio of -0.77 and a beta of 1.88. The company has a fifty day moving average of GBX 159.90 and a 200 day moving average of GBX 162.12.

SSP Group announced that its board has initiated a stock buyback plan on Thursday, October 9th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

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 dated Wednesday, October 1st. The stock was sold at an average price of GBX 173, for a total transaction of £119,382.11. Corporate insiders own 1.00% 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.

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