Key Points
- Insider activity: Director Patrick Coveney sold 136,379 shares on Dec 8 at GBX 174 (~£237,299) but had purchased 149,669 shares at GBX 168 on Dec 4, showing mixed insider buying and selling within days.
- Company fundamentals and actions: SSP announced a board-authorized stock buyback and recently reported weak profitability (GBX 11 EPS for the quarter, net margin 0.24% and a negative PE), indicating constrained financial performance.
- Analyst view and share price: The stock carries a consensus rating of "Moderate Buy" with an average price target of GBX 229.50, while trading around GBX 177.8 within a 12-month range of GBX 134.10–196.30.
SSP Group plc (LON:SSPG - Get Free Report) insider Patrick Coveney sold 136,379 shares of SSP Group stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of GBX 174, for a total value of £237,299.46.
Patrick Coveney also recently made the following trade(s):
- On Thursday, December 4th, Patrick Coveney purchased 149,669 shares of SSP Group stock. The shares were acquired at an average price of GBX 168 per share, for a total transaction of £251,443.92.
- On Wednesday, October 1st, Patrick Coveney sold 69,007 shares of SSP Group stock. The shares were sold at an average price of GBX 173, for a total transaction of £119,382.11.
SSP Group Stock Down 0.2%
SSP Group stock opened at GBX 177.80 on Thursday. The company has a market capitalization of £1.41 billion, a PE ratio of -59.27, a PEG ratio of -0.77 and a beta of 1.88. SSP Group plc has a 12-month low of GBX 134.10 and a 12-month high of GBX 196.30. The firm's fifty day moving average is GBX 156.62 and its 200 day moving average is GBX 162.76. The company has a quick ratio of 0.66, a current ratio of 0.44 and a debt-to-equity ratio of 852.29.
SSP Group (LON:SSPG - Get Free Report) last issued its earnings results on Thursday, December 4th. The company reported GBX 11 earnings per share for the quarter. SSP Group had a return on equity of 3.64% and a net margin of 0.24%. As a group, sell-side analysts predict that SSP Group plc will post 13.1004016 EPS for the current fiscal year.
SSP Group declared that its board has authorized a stock buyback program on Thursday, October 9th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on SSPG. Peel Hunt reiterated a "buy" rating and set a GBX 275 price objective on shares of SSP Group in a report on Friday, October 10th. Citigroup reaffirmed a "buy" rating and issued a GBX 310 price target (down previously from GBX 330) on shares of SSP Group in a research report on Monday, October 13th. Shore Capital reiterated a "house stock" rating on shares of SSP Group in a research note on Thursday, December 4th. JPMorgan Chase & Co. decreased their price objective on SSP Group from GBX 190 to GBX 170 and set a "neutral" rating for the company in a report on Friday. Finally, Berenberg Bank restated a "buy" rating and issued a GBX 190 target price on shares of SSP Group in a report on Tuesday, October 14th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of GBX 229.50.
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About SSP Group
(
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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.
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