Berenberg Bank Boosts Mitie Group (LON:MTO) Price Target to GBX 185

Mitie Group (LON:MTO) had its price target upped by Berenberg Bank from GBX 175 to GBX 185 in a research report issued on Tuesday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the stock. Berenberg Bank’s price target suggests a potential upside of 18.59% from the stock’s current price.

Several other research analysts have also weighed in on MTO. Jefferies Financial Group reiterated a “hold” rating and set a GBX 145 target price on shares of Mitie Group in a report on Thursday, September 11th. Deutsche Bank Aktiengesellschaft lifted their target price on Mitie Group from GBX 165 to GBX 170 and gave the stock a “buy” rating in a report on Monday, August 11th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of GBX 166.67.

Mitie Group Stock Down 1.6%

LON:MTO opened at GBX 156 on Tuesday. Mitie Group has a 12-month low of GBX 101 and a 12-month high of GBX 160. The company has a quick ratio of 0.83, a current ratio of 0.90 and a debt-to-equity ratio of 85.41. The firm has a market capitalization of £2.02 billion, a P/E ratio of 2,052.63, a P/E/G ratio of 10.10 and a beta of 1.41. The stock’s fifty day simple moving average is GBX 142.08 and its 200-day simple moving average is GBX 140.69.

Mitie Group announced that its board has initiated a stock buyback plan on Tuesday, October 14th that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Mitie Group

In other news, insider Mary Reilly purchased 1,844 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were purchased at an average price of GBX 138 per share, with a total value of £2,544.72. Also, insider Phillip Bentley sold 2,000,032 shares of Mitie Group stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of GBX 138, for a total value of £2,760,044.16. Insiders have bought 4,580 shares of company stock valued at $633,884 in the last 90 days. 1.77% of the stock is currently owned by company insiders.

Mitie Group Company Profile

Mitie Group plc, together with its subsidiaries, provides facilities management and professional services in the United Kingdom and internationally. The company operates in four segments: Business Services, Technical Services, Central Government & Defense (CG&D), Communities. The company provides decarbonization, electrical grid connections, emission intelligence, energy and carbon, EV fleets, and heat solutions, as well as solar energy; cleaning and hygiene, engineering maintenance, integrated facilities management, landscape, and waste management services; project and workplace services; and Fire & security systems, front of house, intelligence, vetting, and security guarding service.