Mitie Group (LON:MTO) Sets New 12-Month High – Should You Buy?

Mitie Group plc (LON:MTO)’s stock price reached a new 52-week high on Monday . The stock traded as high as GBX 171.80 and last traded at GBX 171.26, with a volume of 805664 shares trading hands. The stock had previously closed at GBX 168.80.

Analyst Ratings Changes

MTO has been the topic of several research analyst reports. Berenberg Bank increased their target price on shares of Mitie Group from GBX 185 to GBX 210 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Peel Hunt reiterated a “buy” rating and set a GBX 191 price objective on shares of Mitie Group in a report on Thursday, November 20th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a GBX 195 price objective on shares of Mitie Group in a research report on Thursday, December 4th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of GBX 182.20.

Mitie Group Price Performance

The stock has a market capitalization of £2.17 billion, a P/E ratio of 23.37, a price-to-earnings-growth ratio of 10.10 and a beta of 1.41. The business’s 50 day simple moving average is GBX 164.51 and its two-hundred day simple moving average is GBX 152.63. The company has a quick ratio of 0.83, a current ratio of 0.90 and a debt-to-equity ratio of 85.41.

Mitie Group (LON:MTO) last posted its earnings results on Thursday, November 20th. The company reported GBX 5.70 EPS for the quarter. Mitie Group had a net margin of 2.52% and a return on equity of 28.24%. As a group, sell-side analysts forecast that Mitie Group plc will post 10.9360519 earnings per share for the current fiscal year.

Mitie Group announced that its Board of Directors has initiated a stock buyback program on Tuesday, October 14th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Mary Reilly bought 1,518 shares of Mitie Group stock in a transaction dated Friday, January 2nd. The stock was purchased at an average price of GBX 167 per share, for a total transaction of £2,535.06. Also, insider Christopher Rogers bought 50,000 shares of the stock in a transaction dated Thursday, November 20th. The stock was purchased at an average price of GBX 115 per share, with a total value of £57,500. Insiders have acquired a total of 248,603 shares of company stock valued at $36,381,610 in the last 90 days. Insiders own 1.81% of the company’s stock.

Mitie Group Company Profile

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.