SSP Group (LON:SSPG) Stock Price Passes Below 200 Day Moving Average – Here’s What Happened

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

Several equities research analysts have recently weighed in on SSPG shares. Shore Capital reiterated a “house stock” rating on shares of SSP Group in a research report on Thursday, October 9th. Berenberg Bank reissued a “buy” rating and set a GBX 190 price objective on shares of SSP Group in a report on Tuesday, October 14th. Citigroup reaffirmed 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. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of SSP Group in a report on Friday, October 31st. Finally, Peel Hunt restated a “buy” rating and set a GBX 275 target price on shares of SSP Group in a report on Friday, October 10th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 232.83.

SSP Group Price Performance

The firm has a market capitalization of £1.15 billion, a PE ratio of -48.10, a PEG ratio of -0.77 and a beta of 1.88. The company has a debt-to-equity ratio of 852.29, a current ratio of 0.44 and a quick ratio of 0.66. The firm has a 50-day simple moving average of GBX 157.96 and a 200-day simple moving average of GBX 163.83.

SSP Group announced that its board has initiated a stock repurchase plan on Thursday, October 9th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at SSP Group

In other news, insider Patrick Coveney sold 69,007 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of GBX 173, for a total transaction 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.