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

Mitie Group plc (LON:MTO)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 155.53 and traded as high as GBX 175.20. Mitie Group shares last traded at GBX 173.80, with a volume of 10,322,139 shares changing hands.

Analysts Set New Price Targets

MTO has been the topic of a number of recent research reports. Berenberg Bank reiterated a “buy” rating and set a GBX 210 price target on shares of Mitie Group in a research note on Tuesday, January 27th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Mitie Group from GBX 170 to GBX 190 and gave the stock a “buy” rating in a research note 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, Peel Hunt restated a “buy” rating and issued a GBX 191 price target on shares of Mitie Group in a research note on Thursday, November 20th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of GBX 186.20.

Mitie Group Stock Up 0.7%

The company has a debt-to-equity ratio of 85.41, a current ratio of 0.90 and a quick ratio of 0.83. The company has a market cap of £2.22 billion, a PE ratio of 24.05, a P/E/G ratio of 10.10 and a beta of 1.41. The business’s 50 day moving average is GBX 167.91 and its 200-day moving average is GBX 155.53.

Mitie Group (LON:MTO) last announced its quarterly earnings data 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, analysts predict that Mitie Group plc will post 10.9360519 EPS for the current year.

Insiders Place Their Bets

In other Mitie Group news, insider Phillip Bentley purchased 195,000 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was bought at an average cost of GBX 154 per share, with a total value of £300,300. Also, insider Mary Reilly acquired 1,518 shares of the stock in a transaction dated Friday, January 2nd. The shares were acquired at an average cost of GBX 167 per share, with a total value of £2,535.06. Insiders have purchased 248,603 shares of company stock valued at $36,381,610 in the last three months. Corporate insiders own 1.82% 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.