Unite Group (LON:UTG) Shares Pass Above 200 Day Moving Average – Time to Sell?

Unite Group PLC (LON:UTG) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 509.55 and traded as high as GBX 517.50. Unite Group shares last traded at GBX 517.50, with a volume of 1,921,381 shares.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on UTG. JPMorgan Chase & Co. decreased their price objective on Unite Group from GBX 690 to GBX 640 and set an “overweight” rating for the company in a report on Wednesday, July 29th. UBS Group reaffirmed a “buy” rating and set a GBX 585 target price on shares of Unite Group in a research note on Friday, July 3rd. Citigroup lowered Unite Group to a “neutral” rating and reduced their price target for the stock from GBX 906 to GBX 579 in a research report on Monday, August 3rd. Berenberg Bank increased their price target on Unite Group from GBX 623 to GBX 668 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, Jefferies Financial Group reissued a “hold” rating and set a GBX 503 price target on shares of Unite Group in a report on Wednesday, July 29th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of GBX 613.75.

Unite Group Price Performance

The company’s 50 day moving average price is GBX 527.92 and its 200-day moving average price is GBX 509.68. The company has a market cap of £2.71 billion, a price-to-earnings ratio of -5.40, a PEG ratio of 3.20 and a beta of 0.95. The company has a debt-to-equity ratio of 46.65, a quick ratio of 0.73 and a current ratio of 23.17.

Unite Group (LON:UTG) last released its earnings results on Tuesday, July 28th. The company reported GBX 27.10 EPS for the quarter. Unite Group had a negative net margin of 143.81% and a negative return on equity of 10.94%. On average, equities research analysts forecast that Unite Group PLC will post 47.9341004 earnings per share for the current fiscal year.

Unite Group Company Profile

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.