Mitie Group (LON:MTO) Hits New 52-Week High – Time to Buy?

Mitie Group plc (LON:MTO) shares hit a new 52-week high on Wednesday . The company traded as high as GBX 188 and last traded at GBX 185.30, with a volume of 167332 shares trading hands. The stock had previously closed at GBX 185.70.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Berenberg Bank reiterated a “buy” rating and set a GBX 210 target price on shares of Mitie Group in a research note on Tuesday, January 27th. Deutsche Bank Aktiengesellschaft upped their price objective on Mitie Group from GBX 170 to GBX 190 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a GBX 195 price objective on shares of Mitie Group in a research note on Monday, February 2nd. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Mitie Group currently has a consensus rating of “Moderate Buy” and an average price target of GBX 186.20.

Mitie Group Price Performance

The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 120.44. The stock has a market capitalization of £2.34 billion, a PE ratio of 25.38, a price-to-earnings-growth ratio of 10.10 and a beta of 0.89. The firm has a 50 day moving average price of GBX 175.22 and a 200 day moving average price of GBX 165.89.

About Mitie Group

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.