Berenberg Bank Increases Mitie Group (LON:MTO) Price Target to GBX 175

Key Points

• Berenberg Bank has raised its price target for Mitie Group from GBX 165 ($2.19) to GBX 175 ($2.33), indicating a potential upside of 19.20% from the current stock price.
• Mitie Group reported an earnings per share (EPS) of GBX 12.70 ($0.17) for the last quarter, with analysts forecasting an EPS of approximately 10.93 for the current year.
• Insiders at Mitie Group purchased 155,703 shares of the company's stock in the last quarter, indicating a belief that the stock is potentially undervalued.

Mitie Group (LON:MTO - Get Free Report) had its target price upped by research analysts at Berenberg Bank from GBX 165 ($2.22) to GBX 175 ($2.35) in a report released on Monday, Marketbeat reports. The brokerage currently has a "buy" rating on the stock. Berenberg Bank's price target would suggest a potential upside of 18.89% from the stock's previous close.

Mitie Group Stock Performance

Shares of LON MTO traded up GBX 1.80 ($0.02) during trading on Monday, reaching GBX 147.20 ($1.98). 1,910,709 shares of the company traded hands, compared to its average volume of 4,530,441. The firm's fifty day simple moving average is GBX 141.88 and its 200 day simple moving average is GBX 132.19. The stock has a market cap of £1.86 billion, a P/E ratio of 15.30, a PEG ratio of 10.10 and a beta of 1.41. Mitie Group has a 12-month low of GBX 101 ($1.36) and a 12-month high of GBX 160 ($2.15). The company has a current ratio of 0.90, a quick ratio of 0.83 and a debt-to-equity ratio of 85.41.

Mitie Group (LON:MTO - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The company reported GBX 12.70 ($0.17) earnings per share for the quarter. Mitie Group had a return on equity of 28.24% and a net margin of 2.52%. As a group, research analysts anticipate that Mitie Group will post 10.9360519 earnings per share for the current fiscal year.

Mitie Group declared that its Board of Directors has authorized a stock buyback plan on Wednesday, April 16th that allows the company to repurchase 0 shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Mitie Group news, insider Mary Reilly purchased 1,796 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was purchased at an average price of GBX 141 ($1.90) per share, for a total transaction of £2,532.36 ($3,406.00). Also, insider Derek Mapp purchased 7,235 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was acquired at an average price of GBX 141 ($1.90) per share, with a total value of £10,201.35 ($13,720.71). Insiders have bought 155,703 shares of company stock worth $21,379,029 in the last 90 days. 5.65% of the stock is currently owned by company insiders.

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.