Mears Group (LON:MER) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Mears Group plc (LON:MER)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 348.42 and traded as high as GBX 350.50. Mears Group shares last traded at GBX 346.50, with a volume of 37,544 shares changing hands.

Wall Street Analyst Weigh In

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

Mears Group Stock Performance

The company has a debt-to-equity ratio of 162.62, a quick ratio of 0.92 and a current ratio of 0.77. The business’s 50-day moving average is GBX 355.33 and its 200-day moving average is GBX 348.42. The company has a market capitalization of £285.54 million, a PE ratio of 6.49, a PEG ratio of 0.68 and a beta of 0.31.

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.