Mitie Group (LON:MTO) Stock Price Expected to Rise, Berenberg Bank Analyst Says

Mitie Group (LON:MTO) had its target price hoisted by investment analysts at Berenberg Bank from GBX 185 to GBX 210 in a research note issued on Tuesday, Marketbeat Ratings reports. The firm presently has a “buy” rating on the stock. Berenberg Bank’s price objective indicates a potential upside of 27.74% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft increased their price objective on Mitie Group from GBX 165 to GBX 170 and gave the stock a “buy” rating in a research report on Monday, August 11th. Jefferies Financial Group reiterated a “hold” rating and issued a GBX 145 price objective on shares of Mitie Group in a report on Thursday, September 11th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of GBX 175.

Mitie Group Stock Performance

LON:MTO opened at GBX 164.40 on Tuesday. The company has a debt-to-equity ratio of 85.41, a current ratio of 0.90 and a quick ratio of 0.83. The business has a fifty day simple moving average of GBX 144.86 and a two-hundred day simple moving average of GBX 144.18. Mitie Group has a 1 year low of GBX 101 and a 1 year high of GBX 166.60. The company has a market capitalization of £2.13 billion, a P/E ratio of 21.63, a P/E/G ratio of 10.10 and a beta of 1.41.

Mitie Group announced that its Board of Directors has approved a share repurchase program on Tuesday, October 14th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Mitie Group

In other news, insider Phillip Bentley sold 2,000,032 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of GBX 138, for a total value of £2,760,044.16. Also, insider Salma Shah purchased 2,423 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was bought at an average cost of GBX 138 per share, for a total transaction of £3,343.74. Insiders have purchased a total of 4,580 shares of company stock valued at $633,884 in the last ninety days. 1.77% of the stock is currently owned by corporate 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.