The Unite Group PLC (LON: UTG) is a UK-based company that owns, manages, and develops purpose-built student accommodation. Their properties provide homes for approximately 70,000 students in 23 university towns and cities, partnering with roughly 60 universities throughout the country. The company operates through two segments that include, operations and Property.
What Do the Analysts Say?
Unite Group PLC (LON: UTG) has received a “Moderate Buy” consensus rating from various finance firms that are covering the company. Among these, one research analyst recommended holding the stock, while five others suggested buying it.
The average 1-year price target among analysts, who have issued ratings on the stock in the past year is £1,105.83. Moreover, In a separate research report, Royal Bank of Canada reaffirmed an “outperform” rating. It set a £1,100 price target on Unite Group shares.
The UTG stock price opened at £931 a week ago. Currently, the UTG’s 50-day moving average price is £891 and its 150-day moving average price is £904. This stock has a market capitalization of £4B and a price-to-earnings ratio of 25.8.
The company has a current ratio of 0.7, which indicates the cash and equivalents are at optimum levels. Meanwhile, the debt-to-equity ratio is at 0.35. It indicates that the firm is low on debt, when compared to its retained earnings and share capital combined.
Technical Analysis and Prediction of UTG Stock Price
At the time of writing, the UTG stock price is trading at £895. The shares have risen to the trendline after the bulls reclaimed the support level of £875. The immediate resistance is at £922. If the bulls are able to break past it, the second resistance is at £953.
If the bulls can break past this level, it could signal a further potential upward trend. However, if the stock fails to break past this resistance, it could signal a potential pullback.
Beyond the £922 resistance, the second resistance level for UTG stock price is £953. This level represents a significant supply zone for the bulls. However, if they are able to overcome it, this could signal a strong bullish trend for the stock.
The prediction for the UTG stock price will be bullish if the stock is able to break the current downtrend. That will happen if the stock price can reach near the immediate resistance level.
Conclusion
The Unite Group PLC (LON: UTG) has received a “Moderate Buy” rating from various finance firms. the financial health of the firm is good when the balance sheet ratios are uncovered. The current price is about to break the trendline.
Technical Levels
Support: £875 and £855
Resistance: £922 and £953
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/10/06/utg-stock-price-analysts-gave-buy-rating-breakout-is-near/