SSP Group (LON:SSPG) Price Target Lowered to GBX 170 at JPMorgan Chase & Co.

SSP Group (LON:SSPG) had its target price decreased by JPMorgan Chase & Co. from GBX 190 to GBX 170 in a research note released on Friday morning, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other equities research analysts have also commented on SSPG. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of SSP Group from GBX 285 to GBX 262 and set a “buy” rating on the stock in a research note on Thursday, September 25th. Shore Capital restated a “house stock” rating on shares of SSP Group in a research report on Wednesday, November 26th. Berenberg Bank reiterated a “buy” rating and issued a GBX 190 price objective on shares of SSP Group in a research note on Tuesday, October 14th. Citigroup restated a “buy” rating and set a GBX 310 target price (down previously from GBX 330) on shares of SSP Group in a research note on Monday, October 13th. Finally, Peel Hunt reiterated a “buy” rating and set a GBX 275 target price on shares of SSP Group in a research report on Friday, October 10th. Four equities research 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of GBX 229.50.

SSP Group Stock Down 0.1%

Shares of LON:SSPG opened at GBX 181.70 on Friday. SSP Group has a 52-week low of GBX 134.10 and a 52-week high of GBX 191.80. The company has a debt-to-equity ratio of 852.29, a quick ratio of 0.66 and a current ratio of 0.44. The firm has a market cap of £1.44 billion, a P/E ratio of -60.57, a PEG ratio of -0.77 and a beta of 1.88. The business’s 50 day simple moving average is GBX 157.08 and its two-hundred day simple moving average is GBX 163.

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

SSP Group declared that its board has approved a share repurchase program 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 programs are often an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other SSP Group news, insider Geert Verellen bought 41,006 shares of SSP Group stock in a transaction on Thursday, December 11th. The shares were acquired at an average price of GBX 181 per share, for a total transaction of £74,220.86. Also, insider Patrick Coveney sold 136,379 shares of the firm’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of GBX 174, for a total value of £237,299.46. Insiders purchased 227,675 shares of company stock worth $38,884,478 in the last three months. Corporate 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.