SSP Group’s (SSPG) “Buy” Rating Reiterated at Citigroup

Citigroup reaffirmed their buy rating on shares of SSP Group (LON:SSPG) in a report published on Monday morning, Marketbeat reports. They currently have a GBX 310 price objective on the stock, down from their previous price objective of GBX 330.

Several other brokerages have also recently issued reports on SSPG. Shore Capital restated a “house stock” rating on shares of SSP Group in a research note on Thursday, October 9th. JPMorgan Chase & Co. cut their price objective on SSP Group from GBX 200 to GBX 190 and set a “neutral” rating on the stock in a research note on Thursday, August 7th. Berenberg Bank upgraded SSP Group to a “buy” rating and upped their price objective for the company from GBX 180 to GBX 190 in a research note on Thursday, September 11th. Deutsche Bank Aktiengesellschaft cut their price objective on SSP Group from GBX 285 to GBX 262 and set a “buy” rating on the stock in a research note on Thursday, September 25th. Finally, UBS Group cut SSP Group to a “sell” rating and set a GBX 170 price objective on the stock. in a research note on Friday, July 11th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, SSP Group currently has an average rating of “Moderate Buy” and an average target price of GBX 232.83.

SSP Group Trading Down 1.8%

LON:SSPG opened at GBX 158.40 on Monday. The company has a debt-to-equity ratio of 852.29, a quick ratio of 0.66 and a current ratio of 0.44. SSP Group has a one year low of GBX 134.10 and a one year high of GBX 196.30. The business’s 50-day simple moving average is GBX 160.29 and its 200 day simple moving average is GBX 161.78. The stock has a market cap of £1.27 billion, a price-to-earnings ratio of -5,280.00, a price-to-earnings-growth ratio of -0.77 and a beta of 1.88.

SSP Group announced that its Board of Directors has authorized a share repurchase program on Thursday, October 9th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at SSP Group

In related news, insider Patrick Coveney sold 69,007 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was 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.