Unite Group (LON:UTG) Reaches New 52-Week Low – Here’s What Happened

Unite Group PLC (LON:UTG)’s stock price hit a new 52-week low during trading on Wednesday. The stock traded as low as GBX 442.20 and last traded at GBX 442.20, with a volume of 1440321 shares trading hands. The stock had previously closed at GBX 450.

Analysts Set New Price Targets

Several research firms have weighed in on UTG. 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 report on Wednesday, August 5th. JPMorgan Chase & Co. decreased their target price on Unite Group from GBX 690 to GBX 640 and set an “overweight” rating for the company in a research report on Wednesday, July 29th. Jefferies Financial Group reissued a “hold” rating and set a GBX 503 price target on shares of Unite Group in a research report on Thursday, October 1st. UBS Group reaffirmed a “buy” rating and set a GBX 585 target price on shares of Unite Group in a research note on Friday, July 3rd. Finally, Citigroup lowered shares of Unite Group to a “neutral” rating and reduced their price target for the stock from GBX 906 to GBX 579 in a research report on Monday, August 3rd. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Unite Group has an average rating of “Moderate Buy” and a consensus price target of GBX 613.75.

Unite Group Stock Performance

The firm has a market cap of £2.27 billion, a price-to-earnings ratio of -4.52, a price-to-earnings-growth ratio of 3.20 and a beta of 0.94. The firm’s 50 day moving average is GBX 499.63 and its 200-day moving average is GBX 497.66. 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 posted its 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%. Sell-side analysts anticipate that Unite Group PLC will post 47.9341004 earnings per share for the current fiscal 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.