Mitie Group (LON:MTO) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Mitie Group plc (LON:MTO) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 167.85 and traded as high as GBX 177.50. Mitie Group shares last traded at GBX 175.73, with a volume of 2,164,687 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MTO. Deutsche Bank Aktiengesellschaft increased their target price on Mitie Group from GBX 170 to GBX 190 and gave the company a “buy” rating in a report on Tuesday, January 27th. Royal Bank Of Canada reiterated an “outperform” rating and set a GBX 195 target price on shares of Mitie Group in a report on Monday, February 2nd. Finally, Berenberg Bank reiterated a “buy” rating and set a GBX 210 target price on shares of Mitie Group in a report on Friday, April 17th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of GBX 186.20.

Mitie Group Stock Down 1.4%

The firm’s 50-day moving average price is GBX 176.08 and its 200-day moving average price is GBX 167.85. The company has a market cap of £2.21 billion, a price-to-earnings ratio of 24.07, a price-to-earnings-growth ratio of 10.10 and a beta of 0.89. The company has a debt-to-equity ratio of 120.44, a current ratio of 0.94 and a quick ratio of 0.83.

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.