Shares of Whitbread plc (LON:WTB) have garnered an average rating of “Moderate Buy” from six research firms currently covering the company, according to data from Marketbeat.com. This consensus reflects one hold recommendation and five buy recommendations, indicating a generally positive outlook on the stock.
The average 12-month price target among these brokerages stands at GBX 3,480. Recent reports from several firms have influenced this assessment, with notable adjustments made by prominent financial institutions. For instance, Citigroup raised its target price for Whitbread from GBX 3,600 to GBX 3,800, affirming a “buy” rating in a research note dated August 21, 2023.
In another update, JPMorgan Chase & Co. increased its price target from GBX 2,800 to GBX 2,900, while maintaining a “neutral” rating as of October 17, 2023. Additionally, Peel Hunt reiterated a “buy” rating with a target price of GBX 3,500 on October 16, 2023, and Panmure Gordon also reaffirmed their “buy” rating with a target of GBX 3,700 shortly thereafter. Shore Capital echoed this sentiment, issuing a “buy” rating on October 16, 2023.
Recent Earnings and Insider Activity
Whitbread recently announced its quarterly earnings results on October 16, 2023, reporting earnings per share of GBX 133.70. The company achieved a return on equity of 6.83% and a net margin of 8.08%. Analysts predict that Whitbread is on track to post approximately GBX 227.19 earnings per share for the current fiscal year.
In a sign of confidence, corporate insiders have made notable purchases of the company’s shares. On October 17, 2023, insider Christine Mary Hodgson acquired 10,000 shares at an average price of GBX 2,880 per share, totaling £288,000. Another insider, Richard Gillingwater, purchased 500 shares on October 21, 2023, at an average cost of GBX 2,974, amounting to £14,870. Currently, corporate insiders hold 0.38% of the company’s stock.
About Whitbread
Whitbread is best known as the owner of Premier Inn, the largest hotel brand in the UK, boasting 86,000 rooms across more than 850 hotels. The company is also expanding its footprint in Germany, where it operates 10,500 rooms in 59 hotels, providing quality accommodation at competitive prices in prime locations. With a workforce of over 38,000 team members in its UK and German operations, Whitbread emphasizes the importance of its employees as essential to its business model.
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