Unite Group (LON:UTG) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

Unite Group PLC (LON:UTG) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 515.17 and traded as high as GBX 529.50. Unite Group shares last traded at GBX 527, with a volume of 1,569,829 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on UTG. UBS Group reiterated a “buy” rating and issued a GBX 585 target price on shares of Unite Group in a research note on Friday, July 3rd. JPMorgan Chase & Co. cut their price target on shares of Unite Group from GBX 710 to GBX 690 and set an “overweight” rating on the stock in a report on Monday, April 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 640 price objective on shares of Unite Group in a report on Tuesday, May 12th. The Goldman Sachs Group dropped their price objective on shares of Unite Group from GBX 680 to GBX 620 and set a “buy” rating on the stock in a report on Monday, March 30th. Finally, Berenberg Bank reiterated a “buy” rating and issued a GBX 623 target price on shares of Unite Group in a research note on Wednesday, July 8th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of GBX 689.88.

Unite Group Stock Performance

The business’s fifty day moving average price is GBX 510.84 and its 200-day moving average price is GBX 515.32. The company has a debt-to-equity ratio of 29.55, a current ratio of 29.97 and a quick ratio of 0.73. The stock has a market capitalization of £2.76 billion, a PE ratio of 27.01, a P/E/G ratio of 3.20 and a beta of 0.95.

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.