The Goldman Sachs Group Has Lowered Expectations for Unite Group (LON:UTG) Stock Price

Key Points

• Goldman Sachs cut its target on Unite from GBX 680 to GBX 620 but kept a buy rating, implying about a 36.5% upside from the recent close.
• Other brokers (Berenberg, Deutsche Bank) have also trimmed targets, and the stock's consensus is a Moderate Buy with an average price target of GBX 782.80.
• Unite is trading at GBX 454.20 (near its 52‑week low of GBX 442.20) while insider Richard N. L. Huntingford bought 37,985 shares at GBX 529, indicating insider buying despite the lower share price.

Unite Group (LON:UTG - Get Free Report) had its target price dropped by equities researchers at The Goldman Sachs Group from GBX 680 to GBX 620 in a report issued on Monday,London Stock Exchange reports. The brokerage currently has a "buy" rating on the stock. The Goldman Sachs Group's price objective would indicate a potential upside of 36.50% from the company's previous close.

Other equities research analysts have also issued research reports about the stock. Berenberg Bank dropped their price objective on shares of Unite Group from GBX 855 to GBX 774 and set a "buy" rating for the company in a report on Monday, January 26th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Unite Group from GBX 700 to GBX 640 and set a "buy" rating on the stock in a research note on Friday, March 20th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of GBX 782.80.

Unite Group Trading Up 1.2%

Unite Group stock traded up GBX 5.40 during trading on Monday, reaching GBX 454.20. 2,847,020 shares of the company were exchanged, compared to its average volume of 11,344,027. Unite Group has a 52-week low of GBX 442.20 and a 52-week high of GBX 884. The company has a market capitalization of £2.45 billion, a P/E ratio of 22.82, a PEG ratio of 3.20 and a beta of 0.98. The company has a debt-to-equity ratio of 29.55, a current ratio of 29.97 and a quick ratio of 0.73. The stock's 50 day simple moving average is GBX 532.05 and its two-hundred day simple moving average is GBX 568.99.

Unite Group (LON:UTG - Get Free Report) last issued its earnings results on Tuesday, February 24th. The company reported GBX 47.50 earnings per share (EPS) for the quarter. Unite Group had a return on equity of 2.03% and a net margin of 30.06%. On average, equities research analysts expect that Unite Group will post 47.9341004 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Richard N. L. Huntingford acquired 37,985 shares of Unite Group stock in a transaction that occurred on Tuesday, February 24th. The shares were purchased at an average cost of GBX 529 per share, for a total transaction of £200,940.65. Insiders own 0.77% of the company's stock.

About Unite Group

Unite Students is the UK's largest owner, manager and developer of purpose-built student accommodation, serving the country's world-leading Higher Education sector. We provide homes to 70,000 students across 157 properties in 23 leading university towns and cities. We currently partner with over 60 universities across the UK. Our people are driven by a common purpose: to provide a 'Home for Success' for the students who live with us. Unite's accommodation is safe and secure, high quality and affordable.

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