SSP Group (LON:SSPG) Shares Cross Above 50-Day Moving Average – Here’s Why

SSP Group plc (LON:SSPG)’s stock price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of GBX 171.15 ($2.09) and traded as high as GBX 172 ($2.10). SSP Group shares last traded at GBX 169.60 ($2.07), with a volume of 1,503,663 shares.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of SSP Group from GBX 200 ($2.44) to GBX 210 ($2.56) and gave the stock a “neutral” rating in a report on Thursday, December 12th. Shore Capital reaffirmed a “house stock” rating on shares of SSP Group in a research report on Wednesday, December 4th. Finally, Berenberg Bank reiterated a “hold” rating and set a GBX 180 ($2.20) price objective on shares of SSP Group in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, SSP Group currently has an average rating of “Moderate Buy” and a consensus target price of GBX 246.25 ($3.01).

SSP Group Stock Performance

The company has a market capitalization of £1.38 billion, a PE ratio of 17,290.00, a price-to-earnings-growth ratio of -0.77 and a beta of 1.88. The company has a current ratio of 0.35, a quick ratio of 0.66 and a debt-to-equity ratio of 595.27. The business’s fifty day moving average is GBX 171.15 and its two-hundred day moving average is GBX 168.05.

SSP Group Increases Dividend

The firm also recently declared a dividend, which will be paid on Thursday, February 27th. Stockholders of record on Thursday, January 30th will be paid a GBX 2.30 ($0.03) dividend. The ex-dividend date is Thursday, January 30th. This represents a dividend yield of 1.42%. This is a boost from SSP Group’s previous dividend of $1.20. SSP Group’s payout ratio is currently 20,000.00%.

Insider Activity at SSP Group

In related news, insider Apurvi Sheth acquired 4,500 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were bought at an average price of GBX 167 ($2.04) per share, for a total transaction of £7,515 ($9,174.70). Insiders have acquired 4,716 shares of company stock valued at $789,016 over the last ninety days. Insiders own 0.66% of the company’s stock.

SSP Group Company Profile

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.