Unite Group (LON:UTG) Hits New 52-Week Low Following Analyst Downgrade

Key Points

• 52-week low after Deutsche Bank cut its price target from GBX 700 to GBX 640; Unite traded as low as GBX 456.60 (last GBX 457.40) on heavy volume.
• Analyst consensus remains a Moderate Buy (three Buys, one Hold) with an average target of GBX 823.50, even as several firms trimmed their individual targets.
• Insider purchase: director Richard N. L. Huntingford bought 37,985 shares at GBX 529 and insiders own 0.77% of the company, signaling insider confidence amid the share-price decline.

Unite Group PLC (LON:UTG - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Monday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from GBX 700 to GBX 640. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Unite Group traded as low as GBX 456.60 and last traded at GBX 457.40, with a volume of 38583059 shares trading hands. The stock had previously closed at GBX 467.40.

Other equities research analysts have also issued reports about the stock. Berenberg Bank reduced their target price on shares of Unite Group from GBX 855 to GBX 774 and set a "buy" rating on the stock in a report on Monday, January 26th. Panmure Gordon restated a "hold" rating and issued a GBX 675 price target on shares of Unite Group in a research note on Tuesday, November 25th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of GBX 823.50.

Insider Activity at Unite Group

In related news, insider Richard N. L. Huntingford acquired 37,985 shares of the stock in a transaction dated Tuesday, February 24th. The stock was acquired at an average cost of GBX 529 per share, with a total value of £200,940.65. Corporate insiders own 0.77% of the company's stock.

Unite Group Stock Down 2.1%

The firm's fifty day simple moving average is GBX 543.56 and its 200 day simple moving average is GBX 577.73. The company has a current ratio of 29.97, a quick ratio of 0.73 and a debt-to-equity ratio of 29.55. The company has a market cap of £2.47 billion, a price-to-earnings ratio of 22.98, a PEG ratio of 3.20 and a beta of 0.98.

Unite Group (LON:UTG - Get Free Report) last announced its quarterly earnings data on Tuesday, February 24th. The company reported GBX 47.50 earnings per share for the quarter. Unite Group had a net margin of 30.06% and a return on equity of 2.03%. Sell-side analysts predict that Unite Group PLC will post 47.9341004 earnings per share for the current year.

Unite Group Company Profile

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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