Mitie Group (LON:MTO) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Mitie Group plc (LON:MTO)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 151.17 and traded as high as GBX 169.80. Mitie Group shares last traded at GBX 167.20, with a volume of 174,991,641 shares changing hands.

Analysts Set New Price Targets

A number of brokerages recently commented on MTO. Berenberg Bank boosted their target price on shares of Mitie Group from GBX 185 to GBX 210 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a GBX 195 price target on shares of Mitie Group in a report on Thursday, December 4th. Finally, Peel Hunt reaffirmed a “buy” rating and set a GBX 191 price objective on shares of Mitie Group in a research report on Thursday, November 20th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of GBX 182.20.

Mitie Group Stock Performance

The firm has a fifty day simple moving average of GBX 163.62 and a 200-day simple moving average of GBX 151.17. 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 company has a market cap of £2.13 billion, a PE ratio of 22.96, a price-to-earnings-growth ratio of 10.10 and a beta of 1.41.

Mitie Group (LON:MTO) last announced its earnings results on Thursday, November 20th. The company reported GBX 5.70 earnings per share (EPS) for the quarter. Mitie Group had a return on equity of 28.24% and a net margin of 2.52%. On average, research analysts forecast that Mitie Group plc will post 10.9360519 EPS for the current fiscal year.

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

Insider Buying and Selling at Mitie Group

In other Mitie Group news, insider Christopher Rogers purchased 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The stock was purchased at an average price of GBX 115 per share, for a total transaction of £57,500. Also, insider Mary Reilly acquired 1,518 shares of the stock in a transaction on Friday, January 2nd. The shares were acquired at an average cost of GBX 167 per share, for a total transaction of £2,535.06. In the last three months, insiders have acquired 248,603 shares of company stock valued at $36,381,610. 1.81% of the stock is currently owned by 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.