Deutsche Bank Aktiengesellschaft Reiterates Buy Rating for Mears Group (LON:MER)

Mears Group (LON:MER)‘s stock had its “buy” rating reaffirmed by investment analysts at Deutsche Bank Aktiengesellschaft in a research note issued to investors on Wednesday,Digital Look reports. They presently have a GBX 520 target price on the stock. Deutsche Bank Aktiengesellschaft’s price target suggests a potential upside of 24.11% from the company’s current price.

Separately, Berenberg Bank reissued a “buy” rating and issued a GBX 565 price target on shares of Mears Group in a report on Thursday, March 26th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Mears Group currently has a consensus rating of “Buy” and an average price target of GBX 506.

Mears Group Stock Up 2.7%

LON:MER traded up GBX 11 on Wednesday, reaching GBX 419. The stock had a trading volume of 663,292 shares, compared to its average volume of 428,260. The company has a 50-day moving average of GBX 400.77 and a 200 day moving average of GBX 370.57. The company has a current ratio of 0.79, a quick ratio of 0.92 and a debt-to-equity ratio of 157.98. The stock has a market cap of £337.77 million, a P/E ratio of 7.78, a price-to-earnings-growth ratio of 0.68 and a beta of 0.48. Mears Group has a 12-month low of GBX 310 and a 12-month high of GBX 428.50.

Mears Group announced that its board has initiated a stock repurchase plan on Wednesday, April 1st that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider Lucas Critchley sold 60,984 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of GBX 401, for a total value of £244,545.84. Also, insider Andrew C. M. Smith sold 108,303 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of GBX 401, for a total transaction of £434,295.03. Corporate insiders own 1.76% of the company’s stock.

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.