SSP Group (LON:SSPG) Stock Crosses Below 200-Day Moving Average – Should You Sell?

SSP Group plc (LON:SSPG)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 163.69 and traded as low as GBX 140.88. SSP Group shares last traded at GBX 144.30, with a volume of 91,326,188 shares.

Analysts Set New Price Targets

A number of equities analysts have commented on SSPG shares. Citigroup restated a “buy” rating and set a GBX 310 price objective (down previously from GBX 330) on shares of SSP Group in a research note on Monday, October 13th. Shore Capital restated a “house stock” rating on shares of SSP Group in a research report on Thursday, October 9th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 190 price target on shares of SSP Group in a research note on Tuesday, October 14th. Peel Hunt reaffirmed a “buy” rating and set a GBX 275 price objective on shares of SSP Group in a research report on Friday, October 10th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of SSP Group in a report on Friday, October 31st. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, SSP Group has a consensus rating of “Moderate Buy” and a consensus target price of GBX 232.83.

SSP Group Stock Performance

The stock has a market cap of £1.15 billion, a price-to-earnings ratio of -48.10, a P/E/G ratio of -0.77 and a beta of 1.88. 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 company has a 50 day simple moving average of GBX 157.96 and a 200 day simple moving average of GBX 163.69.

SSP Group declared that its board has initiated a share buyback program on Thursday, October 9th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other SSP Group news, insider Patrick Coveney sold 69,007 shares of the firm’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. 1.00% of the stock is currently owned by insiders.

SSP Group Company Profile

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.