The stock of SSP Group PLC (LON:SSPG) gapped up by GBX 0.2 today and has GBX 385.80 target or 4.00% above today’s GBX 370.96 share price. The 7 months technical chart setup indicates low risk for the GBX 1.76B company. The gap was reported on Nov, 30 by Barchart.com. If the GBX 385.80 price target is reached, the company will be worth GBX 70.40M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock decreased 0.01% or GBX 0.04 on November 30, hitting GBX 370.96. About 4.32 million shares traded hands or 624.70% up from the average. SSP Group PLC (LON:SSPG) has risen 28.62% since May 4, 2016 and is uptrending. It has outperformed by 23.39% the S&P500.
SSP Group PLC (LON:SSPG) Ratings Coverage
Out of 10 analysts covering SSP Group Plc (LON:SSPG), 5 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 50% are positive. SSP Group Plc has been the topic of 56 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The rating was maintained by Barclays Capital on Monday, February 1 with “Equal Weight”. The stock has “Buy” rating given by Numis Securities on Tuesday, November 29. Barclays Capital maintained SSP Group PLC (LON:SSPG) on Wednesday, July 20 with “Equal Weight” rating. The firm has “Overweight” rating given on Monday, September 14 by JP Morgan. Panmure Gordon maintained the shares of SSPG in a report on Thursday, September 15 with “Buy” rating. The stock has “Overweight” rating given by JP Morgan on Friday, January 29. As per Thursday, November 26, the company rating was maintained by Canaccord Genuity. The firm has “Equal Weight” rating by Barclays Capital given on Tuesday, December 1. Canaccord Genuity maintained SSP Group PLC (LON:SSPG) on Wednesday, May 25 with “Hold” rating. The firm earned “Buy” rating on Tuesday, November 29 by Panmure Gordon.
More news for SSP Group PLC (LON:SSPG) were recently published by: Uk.Finance.Yahoo.com, which released: “SSP Group plc (SSPG.L)” on July 11, 2014. Fool.Co.Uk‘s article titled: “Is SSP Group PLC A Better Buy Than Tesco PLC And WH Smith Plc?” and published on August 07, 2015 is yet another important article.
SSP Group plc operates food and beverage concessions in travel locations, operating restaurants, bars, cafes, food courts, lounges and convenience stores in airports, train stations, motorway service stations and other leisure locations. The company has a market cap of 1.76 billion GBP. The Firm operates through four divisions: the UK, Continental Europe, North America and Rest of the World . It has a 29.78 P/E ratio. The UK segment includes activities in the United Kingdom and the Republic of Ireland.
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