Citigroup Cuts SSP Group (LON:SSPG) Price Target to GBX 350

SSP Group (LON:SSPG) had its price objective lowered by equities researchers at Citigroup from GBX 360 to GBX 350 in a research report issued to clients and investors on Monday,Digital Look reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target indicates a potential upside of 84.70% from the company’s current price.

SSPG has been the subject of a number of other research reports. Shore Capital reiterated a “house stock” rating on shares of SSP Group in a report on Monday, January 19th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 230 target price on shares of SSP Group in a research report on Monday, January 19th. Peel Hunt reiterated a “buy” rating and issued a GBX 275 price target on shares of SSP Group in a report on Friday, October 10th. JPMorgan Chase & Co. reduced their price objective on SSP Group from GBX 190 to GBX 170 and set a “neutral” rating on the stock in a report on Friday, December 12th. Finally, UBS Group reiterated a “neutral” rating and issued a GBX 180 target price on shares of SSP Group in a report on Friday, January 16th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of GBX 244.50.

SSP Group Trading Down 4.1%

SSPG traded down GBX 8 on Monday, hitting GBX 189.50. The company had a trading volume of 1,591,821 shares, compared to its average volume of 4,567,397. SSP Group has a 12-month low of GBX 134.10 and a 12-month high of GBX 212.20. 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 business’s fifty day simple moving average is GBX 182.40 and its 200 day simple moving average is GBX 169.01. The company has a market cap of £1.50 billion, a PE ratio of -20.38, a PEG ratio of -0.77 and a beta of 1.88.

SSP Group (LON:SSPG) last released its earnings results on Thursday, December 4th. The company reported GBX 11 earnings per share for the quarter. SSP Group had a return on equity of 3.64% and a net margin of 0.24%. Equities research analysts expect that SSP Group will post 13.1004016 EPS for the current year.

SSP Group announced that its board has approved a stock buyback plan on Thursday, October 9th that permits the company to buyback 0 shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider Geert Verellen acquired 41,006 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were purchased at an average price of GBX 181 per share, with a total value of £74,220.86. Also, insider Tim Lodge bought 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The shares were purchased at an average cost of GBX 172 per share, with a total value of £25,800. In the last ninety days, insiders purchased 227,675 shares of company stock worth $38,884,478. Insiders own 1.01% 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. These include our own brands (such as UrbanCrave, which brought the first “street eats” concept to airports in the US, Nippon Ramen, a noodle and dumpling concept in the Asia Pac region, and Juniper, a premium bar in the UK) as well as franchise brands (such as M&S, Starbucks and Burger King).