SSP Group's (SSPG) Buy Rating Reiterated at Berenberg Bank

Key Points

• Berenberg Bank has reiterated a "buy" rating for SSP Group, setting a price target of GBX 190, which suggests a potential upside of 19.95% from its current price.
• Multiple analysts have differing views, with UBS Group labeling it a "sell" with a target price of GBX 170, while Citigroup maintains a "buy" rating but adjusted its target down to GBX 310.
• SSP Group is implementing a stock buyback program as a sign of confidence in the company’s undervalued shares, despite reports of insider selling from executives within the company.

SSP Group (LON:SSPG - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at Berenberg Bank in a research report issued on Tuesday,Digital Look reports. They currently have a GBX 190 price objective on the stock. Berenberg Bank's price target indicates a potential upside of 19.95% from the stock's current price.

Several other equities research analysts have also issued reports on the company. UBS Group lowered SSP Group to a "sell" rating and set a GBX 170 target price for the company. in a research report on Friday, July 11th. Shore Capital reiterated a "house stock" rating on shares of SSP Group in a research note on Thursday, October 9th. Citigroup restated a "buy" rating and set a GBX 310 price target (down from GBX 330) on shares of SSP Group in a research note on Monday. Deutsche Bank Aktiengesellschaft lowered their target price on shares of SSP Group from GBX 285 to GBX 262 and set a "buy" rating on the stock in a report on Thursday, September 25th. Finally, Peel Hunt reaffirmed a "buy" rating and issued a GBX 275 price target on shares of SSP Group in a report on Friday, October 10th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, SSP Group presently has an average rating of "Moderate Buy" and a consensus price target of GBX 232.83.

SSP Group Stock Performance

Shares of LON SSPG traded down GBX 2.90 during midday trading on Tuesday, reaching GBX 158.40. The company's stock had a trading volume of 1,709,383 shares, compared to its average volume of 3,183,697. The stock has a market capitalization of £1.27 billion, a P/E ratio of -5,280.00, a PEG ratio of -0.77 and a beta of 1.88. 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 50 day moving average price of GBX 160.49 and a 200-day moving average price of GBX 161.80. SSP Group has a 12-month low of GBX 134.10 and a 12-month high of GBX 196.30.

SSP Group declared that its board has approved a stock buyback program on Thursday, October 9th that allows the company to buyback 0 shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership 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 value of £119,382.11. 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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