Berenberg Bank Reaffirms Buy Rating for SSP Group (LON:SSPG)

SSP Group (LON:SSPG)‘s stock had its “buy” rating reiterated by equities researchers at Berenberg Bank in a report issued on Monday, Marketbeat Ratings reports. They currently have a GBX 230 target price on the stock. Berenberg Bank’s price target would suggest a potential upside of 19.85% from the company’s current price.

SSPG has been the subject of several other reports. UBS Group reiterated a “neutral” rating and set a GBX 180 target price on shares of SSP Group in a research report on Friday. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of SSP Group from GBX 285 to GBX 262 and set a “buy” rating on the stock in a research report on Thursday, September 25th. JPMorgan Chase & Co. cut their target price on shares of SSP Group from GBX 190 to GBX 170 and set a “neutral” rating for the company in a research report on Friday, December 12th. Shore Capital reissued a “house stock” rating on shares of SSP Group in a research note on Monday. Finally, Citigroup raised their price target on SSP Group from GBX 310 to GBX 350 and gave the company a “buy” rating in a research report on Thursday, January 15th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of GBX 244.50.

SSP Group Trading Up 0.8%

Shares of SSP Group stock opened at GBX 191.90 on Monday. The company’s 50-day moving average price is GBX 178.73 and its 200-day moving average price is GBX 168.85. The company has a current ratio of 0.44, a quick ratio of 0.66 and a debt-to-equity ratio of 852.29. SSP Group has a 12-month low of GBX 134.10 and a 12-month high of GBX 212.20. The company has a market cap of £1.52 billion, a price-to-earnings ratio of -20.63, a PEG ratio of -0.77 and a beta of 1.88.

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 return on equity of 3.64% and a net margin of 0.24%. On average, equities analysts expect that SSP Group will post 13.1004016 earnings per share for the current fiscal year.

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

Insider Transactions at SSP Group

In other news, insider Geert Verellen acquired 41,006 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were purchased at an average price of GBX 181 per share, for a total transaction of £74,220.86. Also, insider Karina Deacon acquired 18,000 shares of the stock in a transaction dated Thursday, December 4th. The shares were purchased at an average cost of GBX 171 per share, with a total value of £30,780. In the last 90 days, insiders have bought 227,675 shares of company stock valued at $38,884,478. 1.01% of the stock is currently owned by corporate insiders.

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).