Mears Group (LON:MER) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Mears Group plc (LON:MER)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 352.54 and traded as high as GBX 363.50. Mears Group shares last traded at GBX 361, with a volume of 251,369 shares traded.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Panmure Gordon restated a “buy” rating and set a GBX 499 price objective on shares of Mears Group in a research note on Monday, December 8th. Berenberg Bank boosted their price target on shares of Mears Group from GBX 550 to GBX 565 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Finally, Peel Hunt reaffirmed a “buy” rating and issued a GBX 440 price target on shares of Mears Group in a research note on Monday, December 8th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of GBX 503.50.

Mears Group Stock Performance

The company’s 50-day moving average price is GBX 360.08 and its two-hundred day moving average price is GBX 352.54. The company has a market cap of £293.78 million, a P/E ratio of 6.67, a price-to-earnings-growth ratio of 0.68 and a beta of 1.26. The company has a current ratio of 0.87, a quick ratio of 0.92 and a debt-to-equity ratio of 139.90.

About Mears Group

Mears Group plc, together with its subsidiaries, provides various outsourced services to the public and private sectors in the United Kingdom. The company offers rapid-response and planned maintenance services to local authorities; gas and repair services; and maintenance and repairs, capital works, energy investment, and regeneration solutions for public buildings, as well as grounds maintenance services. It provides housing management services, which include supply of affordable homes to public and private sectors; emergency and temporary accommodation services; affordable housing/social housing management; housing with care services; private rented sector; stock acquisition; mears housing solutions; and housing services to central government departments.