Berenberg Bank Reaffirms Buy Rating for Mitie Group (LON:MTO)

Mitie Group (LON:MTO)‘s stock had its “buy” rating restated by investment analysts at Berenberg Bank in a research note issued on Tuesday, Marketbeat reports. They presently have a GBX 210 target price on the stock. Berenberg Bank’s target price indicates a potential upside of 25.30% from the company’s previous close.

Several other research analysts have also recently issued reports on the company. Royal Bank Of Canada reissued an “outperform” rating and issued a GBX 195 price target on shares of Mitie Group in a research note on Thursday, December 4th. Peel Hunt reaffirmed a “buy” rating and issued a GBX 191 price objective on shares of Mitie Group in a report on Thursday, November 20th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of GBX 186.20.

Mitie Group Price Performance

Shares of LON:MTO opened at GBX 167.60 on Tuesday. The firm’s 50 day moving average is GBX 165.17 and its two-hundred day moving average is GBX 153.20. The firm has a market capitalization of £2.13 billion, a P/E ratio of 22.96, a PEG ratio of 10.10 and a beta of 1.41. The company has a current ratio of 0.90, a quick ratio of 0.83 and a debt-to-equity ratio of 85.41. Mitie Group has a 52 week low of GBX 109.18 and a 52 week high of GBX 173.40.

Mitie Group (LON:MTO) last issued its quarterly earnings data 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%. Analysts anticipate that Mitie Group will post 10.9360519 earnings per share for the current year.

Mitie Group declared that its board has initiated a share repurchase program on Tuesday, October 14th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Mitie Group

In other Mitie Group news, insider Mary Reilly acquired 1,518 shares of Mitie Group stock in a transaction dated Friday, January 2nd. The stock was bought at an average price of GBX 167 per share, for a total transaction of £2,535.06. Also, insider Salma Shah acquired 1,994 shares of the stock in a transaction dated Friday, January 2nd. The stock was acquired at an average cost of GBX 167 per share, for a total transaction of £3,329.98. Insiders purchased a total of 248,603 shares of company stock valued at $36,381,610 over the last 90 days. Insiders own 1.81% of the company’s stock.

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.