Unite Group (LON:UTG) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Unite Group PLC (LON:UTG) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 507.52 and traded as high as GBX 514.50. Unite Group shares last traded at GBX 510.50, with a volume of 73,205,758 shares traded.

Analysts Set New Price Targets

UTG has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft boosted 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 target price on shares of Unite Group from GBX 623 to GBX 668 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Citigroup downgraded shares of Unite Group to a “neutral” rating and cut their price target for the company from GBX 906 to GBX 579 in a report on Monday, August 3rd. JPMorgan Chase & Co. lowered their target price on shares of Unite Group from GBX 690 to GBX 640 and set an “overweight” rating on the stock in a research report on Wednesday, July 29th. Finally, UBS Group reissued a “buy” rating and set a GBX 585 price objective on shares of Unite Group in a report on Friday, July 3rd. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of GBX 613.75.

Unite Group Stock Performance

The firm has a market capitalization of £2.62 billion, a price-to-earnings ratio of -5.22, a price-to-earnings-growth ratio of 3.20 and a beta of 0.95. The firm’s 50-day moving average price is GBX 527.49 and its two-hundred day moving average price is GBX 507.52. The company has a debt-to-equity ratio of 46.65, a quick ratio of 0.73 and a current ratio of 23.17.

Unite Group (LON:UTG) last announced its quarterly earnings results on Tuesday, July 28th. The company reported GBX 27.10 EPS for the quarter. Unite Group had a negative net margin of 143.81% and a negative return on equity of 10.94%. Sell-side analysts predict that Unite Group PLC will post 47.9341004 earnings per share for the current year.

About Unite Group

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.