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

Unite Group (LON:UTG)‘s stock had its “buy” rating restated by Berenberg Bank in a research report issued to clients and investors on Thursday, MarketBeat reports. They currently have a GBX 668 price objective on the stock. Berenberg Bank’s target price indicates a potential upside of 55.86% from the company’s previous close.

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

Unite Group Price Performance

UTG traded up GBX 5.40 on Thursday, hitting GBX 428.60. 1,225,014 shares of the company’s stock traded hands, compared to its average volume of 10,505,268. The company’s 50 day simple moving average is GBX 490.76 and its 200-day simple moving average is GBX 496.64. The company has a current ratio of 23.17, a quick ratio of 0.73 and a debt-to-equity ratio of 46.65. Unite Group has a one year low of GBX 416 and a one year high of GBX 619. The firm has a market cap of £2.20 billion, a price-to-earnings ratio of -4.38, a P/E/G ratio of 3.20 and a beta of 0.94.

Unite Group (LON:UTG) last posted its quarterly earnings results on Tuesday, July 28th. The company reported GBX 27.10 earnings per share 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 anticipate that Unite Group will post 47.93 EPS for the current 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.