Unite Group (LON:UTG) Stock Price Crosses Above 50-Day Moving Average – Here’s What Happened

Unite Group PLC (LON:UTG)’s stock price passed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of GBX 473.76 and traded as high as GBX 477. Unite Group shares last traded at GBX 476.45, with a volume of 128,812,117 shares changing hands.

Analyst Ratings Changes

Several equities analysts recently issued reports on UTG shares. 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 research report on Wednesday, July 29th. Peel Hunt restated a “hold” rating and set a GBX 555 target price on shares of Unite Group in a report on Thursday, October 8th. Berenberg Bank reiterated a “buy” rating and issued a GBX 668 price target on shares of Unite Group in a report on Thursday, October 8th. Citigroup downgraded 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 report on Monday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Unite Group from GBX 640 to GBX 570 and set a “buy” rating for the company in a research report on Thursday, October 8th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of GBX 593.56.

Unite Group Trading Down 0.7%

The company has a quick ratio of 0.73, a current ratio of 23.17 and a debt-to-equity ratio of 46.65. The company has a market capitalization of £2.42 billion, a P/E ratio of -4.81, a price-to-earnings-growth ratio of 3.20 and a beta of 0.94. The business has a fifty day moving average price of GBX 473.76 and a 200 day moving average price of GBX 505.37.

Unite Group (LON:UTG) last posted its quarterly earnings data on Tuesday, July 28th. The company reported GBX 27.10 earnings per share (EPS) for the quarter. Unite Group had a negative return on equity of 10.94% and a negative net margin of 143.81%. On average, analysts expect that Unite Group PLC will post 47.93 earnings per share 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.