Berenberg Bank Reaffirms Buy Rating for Unite Group (LON:UTG)

Unite Group (LON:UTG)‘s stock had its “buy” rating reaffirmed by investment analysts at Berenberg Bank in a report released on Thursday, MarketBeat Ratings reports. They currently have a GBX 668 price target on the stock. Berenberg Bank’s price objective suggests a potential upside of 52.65% from the stock’s previous close.

A number of other research analysts have also issued reports on the company. UBS Group reaffirmed a “buy” rating and set a GBX 585 target price on shares of Unite Group in a report on Friday, July 3rd. Deutsche Bank Aktiengesellschaft upped their price target on shares of Unite Group from GBX 600 to GBX 640 and gave the company a “buy” rating in a report on Wednesday, July 29th. JPMorgan Chase & Co. cut their price target on shares of Unite Group from GBX 690 to GBX 640 and set an “overweight” rating for the company in a report on Wednesday, July 29th. Jefferies Financial Group restated a “hold” rating and set a GBX 503 price objective on shares of Unite Group in a research report on Thursday, October 1st. Finally, Citigroup cut shares of Unite Group to a “neutral” rating and lowered their price objective for the stock from GBX 906 to GBX 579 in a research note on Monday, August 3rd. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of GBX 599.44.

Unite Group Price Performance

LON UTG traded up GBX 6.60 on Thursday, reaching GBX 437.60. 1,091,106 shares of the stock traded hands, compared to its average volume of 10,409,539. Unite Group has a 12 month low of GBX 416 and a 12 month high of GBX 607.50. The company has a market cap of £2.25 billion, a price-to-earnings ratio of -4.47, a P/E/G ratio of 3.20 and a beta of 0.94. The firm’s fifty day simple moving average is GBX 488.60 and its 200 day simple moving average is GBX 496.45. The company has a quick ratio of 0.73, a current ratio of 23.17 and a debt-to-equity ratio of 46.65.

Unite Group (LON:UTG) last posted its quarterly earnings data on Tuesday, July 28th. The company reported GBX 27.10 EPS for the quarter. Unite Group had a negative return on equity of 10.94% and a negative net margin of 143.81%. As a group, research analysts predict that Unite Group will post 47.93 EPS for the current fiscal year.

About Unite Group

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.