Mitie Group (LON:MTO) Downgraded by Berenberg Bank to "Hold"

Key Points

• Berenberg Bank downgraded Mitie Group to “Hold” and cut its price target from GBX 230 to GBX 219, implying 4.39% potential upside from the prior close.
• Analyst sentiment remains broadly positive, with three Buy ratings and two Holds; MarketBeat reports an overall “Moderate Buy” rating and an average target price of GBX 190.
• Mitie shares opened at GBX 209.80, near their 12-month high of GBX 214, while recent insider activity included purchases by two directors but more than £194 million in insider sales over the past 90 days.

Mitie Group (LON:MTO - Get Free Report) was downgraded by equities research analysts at Berenberg Bank to a "hold" rating in a research report issued to clients and investors on Wednesday, Digital Look reports. They currently have a GBX 219 price objective on the stock, down from their prior price objective of GBX 230. Berenberg Bank's price objective suggests a potential upside of 4.39% from the stock's previous close.

A number of other equities analysts have also weighed in on the company. Royal Bank Of Canada lowered their price objective on Mitie Group from GBX 205 to GBX 200 and set an "outperform" rating on the stock in a research note on Friday, June 5th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a GBX 195 target price on shares of Mitie Group in a research note on Monday, June 8th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Mitie Group currently has an average rating of "Moderate Buy" and an average target price of GBX 190.

Mitie Group Stock Down 0.1%

Shares of LON MTO opened at GBX 209.80 on Wednesday. Mitie Group has a 12-month low of GBX 134.80 and a 12-month high of GBX 214. The stock has a market cap of £2.73 billion, a PE ratio of 34.39, a P/E/G ratio of 10.10 and a beta of 0.90. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 107.60. The company has a 50-day moving average of GBX 186.42 and a 200 day moving average of GBX 177.66.

Mitie Group (LON:MTO - Get Free Report) last released its earnings results on Thursday, June 4th. The company reported GBX 13.60 earnings per share for the quarter. The business had revenue of GBX 561.86 billion for the quarter. Mitie Group had a net margin of 1.47% and a return on equity of 15.86%. As a group, sell-side analysts predict that Mitie Group will post 10.9360519 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Mary Reilly bought 1,503 shares of the firm's stock in a transaction on Wednesday, July 1st. The shares were bought at an average price of GBX 149 per share, with a total value of £2,239.47. Also, insider Salma Shah bought 2,220 shares of the stock in a transaction on Wednesday, July 1st. The shares were bought at an average cost of GBX 149 per share, with a total value of £3,307.80. Over the last 90 days, insiders bought 3,795 shares of company stock valued at $569,703 and sold 1,004,735 shares valued at $194,654,911. 1.89% of the stock is currently owned by insiders.

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.

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