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

Shares of Unite Group PLC (LON:UTG) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as GBX 844.50 ($10.87) and last traded at GBX 845.50 ($10.88), with a volume of 1543779 shares trading hands. The stock had previously closed at GBX 855 ($11.00).

Wall Street Analysts Forecast Growth

A number of analysts have commented on UTG shares. Berenberg Bank reissued a “hold” rating and issued a GBX 1,052 ($13.54) price objective on shares of Unite Group in a research note on Thursday, August 22nd. JPMorgan Chase & Co. reissued a “neutral” rating and issued a GBX 1,100 ($14.16) price target on shares of Unite Group in a research report on Thursday, July 25th.

Unite Group Stock Performance

The company’s 50 day simple moving average is GBX 922.16 and its 200 day simple moving average is GBX 924.26. The company has a debt-to-equity ratio of 38.52, a quick ratio of 0.73 and a current ratio of 1.58. The stock has a market cap of £4.16 billion, a PE ratio of 1,395.08, a price-to-earnings-growth ratio of 3.20 and a beta of 1.24.

Insider Activity at Unite Group

In related news, insider Michael Burt purchased 11,874 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were bought at an average cost of GBX 838 ($10.78) per share, with a total value of £99,504.12 ($128,045.45). 0.30% of the stock is currently owned by company insiders.

Unite Group Company Profile

Unite Group PLC, owns, manages, and develops purpose-built student accommodation facilities for the higher education sector in the United Kingdom. The company operates through Operations and Property segments. It manages rental properties, as well as offers asset management services. The company was founded in 1991 and is headquartered in Bristol, England.