Berenberg Bank Reiterates Buy Rating for Mitie Group (LON:MTO)

Mitie Group (LON:MTO - Get Free Report)'s stock had its "buy" rating restated by stock analysts at Berenberg Bank in a research report issued to clients and investors on Tuesday, Marketbeat reports. They currently have a GBX 165 ($2.23) target price on the stock. Berenberg Bank's target price would indicate a potential upside of 17.86% from the company's current price.

Mitie Group Stock Performance

Shares of MTO stock traded down GBX 2.80 ($0.04) on Tuesday, reaching GBX 140 ($1.89). The stock had a trading volume of 1,917,298 shares, compared to its average volume of 4,467,362. The company has a debt-to-equity ratio of 85.41, a quick ratio of 0.83 and a current ratio of 0.90. Mitie Group has a 1 year low of GBX 101 ($1.36) and a 1 year high of GBX 160 ($2.16). The stock has a market cap of £1.77 billion, a P/E ratio of 14.55, a price-to-earnings-growth ratio of 10.10 and a beta of 1.41. The company has a 50 day simple moving average of GBX 144.95 and a 200 day simple moving average of GBX 129.84.

Mitie Group (LON:MTO - Get Free Report) last issued its quarterly earnings results 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%. Equities research analysts expect that Mitie Group will post 10.9360519 EPS for the current year.

Mitie Group declared that its Board of Directors has initiated a share buyback plan on Wednesday, April 16th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Christopher Rogers purchased 144,000 shares of the business's stock in a transaction on Friday, June 6th. The shares were acquired at an average cost of GBX 137 ($1.85) per share, with a total value of £197,280 ($266,486.56). Also, insider Mary Reilly bought 1,796 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were acquired at an average price of GBX 141 ($1.90) per share, for a total transaction of £2,532.36 ($3,420.72). Over the last 90 days, insiders have acquired 155,703 shares of company stock valued at $21,379,029. 5.65% of the stock is owned by 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.