SSP Group (LON:SSPG) Receives “Buy” Rating from Berenberg Bank

Berenberg Bank reaffirmed their buy rating on shares of SSP Group (LON:SSPG) in a research report released on Monday, MarketBeat.com reports. The firm currently has a GBX 230 price objective on the stock.

SSPG has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of SSP Group from GBX 285 to GBX 262 and set a “buy” rating for the company in a research note on Thursday, September 25th. Peel Hunt reiterated a “buy” rating and issued a GBX 275 price target on shares of SSP Group in a research note on Friday, October 10th. Citigroup raised their price objective on SSP Group from GBX 310 to GBX 350 and gave the company a “buy” rating in a report on Thursday, January 15th. UBS Group restated a “neutral” rating and set a GBX 180 price objective on shares of SSP Group in a research report on Friday. Finally, Shore Capital reiterated a “house stock” rating on shares of SSP Group in a research report on Monday. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, SSP Group currently has an average rating of “Moderate Buy” and an average target price of GBX 244.50.

SSP Group Stock Performance

SSP Group stock opened at GBX 191.60 on Monday. The company has a quick ratio of 0.66, a current ratio of 0.44 and a debt-to-equity ratio of 852.29. The stock has a market cap of £1.52 billion, a PE ratio of -20.60, a P/E/G ratio of -0.77 and a beta of 1.88. SSP Group has a 12-month low of GBX 134.10 and a 12-month high of GBX 212.20. The business’s 50-day moving average price is GBX 178.73 and its two-hundred day moving average price is GBX 168.85.

SSP Group (LON:SSPG) last posted its earnings results on Thursday, December 4th. The company reported GBX 11 EPS for the quarter. SSP Group had a net margin of 0.24% and a return on equity of 3.64%. As a group, analysts expect that SSP Group will post 13.1004016 earnings per share for the current fiscal year.

SSP Group announced that its Board of Directors has authorized a stock repurchase program on Thursday, October 9th that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at SSP Group

In related news, insider Patrick Coveney purchased 149,669 shares of the firm’s stock in a transaction dated Thursday, December 4th. The stock was bought at an average price of GBX 168 per share, with a total value of £251,443.92. Also, insider Geert Verellen acquired 41,006 shares of the stock in a transaction dated Thursday, December 11th. The shares were bought at an average price of GBX 181 per share, with a total value of £74,220.86. Insiders purchased 227,675 shares of company stock worth $38,884,478 over the last 90 days. Company insiders own 1.01% of the company’s stock.

About SSP Group

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. These include our own brands (such as UrbanCrave, which brought the first “street eats” concept to airports in the US, Nippon Ramen, a noodle and dumpling concept in the Asia Pac region, and Juniper, a premium bar in the UK) as well as franchise brands (such as M&S, Starbucks and Burger King).