Unite Group (LON:UTG) Stock Passes Above 200 Day Moving Average – Here’s Why

Unite Group PLC (LON:UTG)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 511.65 and traded as high as GBX 536.50. Unite Group shares last traded at GBX 526, with a volume of 1,413,830 shares.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Unite Group from GBX 600 to GBX 640 and gave the company a “buy” rating in a report on Wednesday, July 29th. Berenberg Bank lifted their price objective on shares of Unite Group from GBX 623 to GBX 668 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. JPMorgan Chase & Co. dropped their target price on shares of Unite Group from GBX 690 to GBX 640 and set an “overweight” rating on the stock in a report on Wednesday, July 29th. Jefferies Financial Group reissued a “hold” rating and set a GBX 503 target price on shares of Unite Group in a research note on Wednesday, July 29th. Finally, UBS Group restated a “buy” rating and set a GBX 585 target price on shares of Unite Group in a report on Friday, July 3rd. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Unite Group currently has an average rating of “Moderate Buy” and a consensus price target of GBX 613.75.

Unite Group Stock Performance

The company has a debt-to-equity ratio of 46.65, a current ratio of 23.17 and a quick ratio of 0.73. The firm has a market capitalization of £2.72 billion, a PE ratio of -5.41, a P/E/G ratio of 3.20 and a beta of 0.95. The firm has a fifty day moving average price of GBX 527.61 and a 200 day moving average price of GBX 511.36.

Unite Group (LON:UTG) last issued its quarterly earnings results on Tuesday, July 28th. The company reported GBX 27.10 earnings per share for the quarter. Unite Group had a negative return on equity of 10.94% and a negative net margin of 143.81%. Research analysts anticipate 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.