Mears Group (LON:MER) Shares Cross Above 200 Day Moving Average – What’s Next?

Mears Group plc (LON:MER) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 348.60 and traded as high as GBX 355. Mears Group shares last traded at GBX 353, with a volume of 972,366 shares traded.

Analysts Set New Price Targets

MER has been the subject of several recent research reports. Panmure Gordon reiterated a “buy” rating and issued a GBX 499 price target on shares of Mears Group in a research note on Monday, December 8th. Peel Hunt reaffirmed a “buy” rating and issued a GBX 440 price objective on shares of Mears Group in a report on Monday, December 8th. Finally, Berenberg Bank upped their target price on Mears Group from GBX 550 to GBX 565 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of GBX 503.50.

Mears Group Stock Up 1.3%

The firm has a 50 day simple moving average of GBX 356.32 and a two-hundred day simple moving average of GBX 348.60. The company has a quick ratio of 0.92, a current ratio of 0.77 and a debt-to-equity ratio of 162.62. The stock has a market capitalization of £290.90 million, a P/E ratio of 6.61, a PEG ratio of 0.68 and a beta of 0.35.

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.