Mitie Group (LON:MTO) Given New GBX 170 Price Target at Deutsche Bank Aktiengesellschaft

Key Points

• Deutsche Bank Aktiengesellschaft has raised its price target for Mitie Group from GBX 165 ($2.22) to GBX 170 ($2.29), indicating a potential upside of 15.49% from its previous close.
• Berenberg Bank also increased its price objective for Mitie Group to GBX 175 ($2.35) while maintaining a "buy" rating on the stock.
• Insider purchases show confidence in the company, with insiders acquiring over 155,000 shares valued at approximately $21.4 million in the last quarter.

Mitie Group (LON:MTO - Free Report) had its price objective raised by Deutsche Bank Aktiengesellschaft from GBX 165 ($2.23) to GBX 170 ($2.30) in a report issued on Monday morning, MarketBeat.com reports. The firm currently has a buy rating on the stock.

Separately, Berenberg Bank increased their price target on Mitie Group from GBX 165 ($2.23) to GBX 175 ($2.36) and gave the stock a "buy" rating in a report on Monday, August 4th.

Mitie Group Stock Down 1.5%

LON:MTO traded down GBX 2.20 ($0.03) on Monday, hitting GBX 146.20 ($1.97). The stock had a trading volume of 4,849,611 shares, compared to its average volume of 4,513,993. The business's fifty day moving average is GBX 141.46 and its 200 day moving average is GBX 132.74. The company has a market cap of £1.84 billion, a PE ratio of 15.20, a P/E/G ratio of 10.10 and a beta of 1.41. The company has a quick ratio of 0.83, a current ratio of 0.90 and a debt-to-equity ratio of 85.41. Mitie Group has a 52 week low of GBX 101 ($1.36) and a 52 week high of GBX 160 ($2.16).

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

Mitie Group announced that its Board of Directors has approved a stock repurchase program on Wednesday, April 16th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Christopher Rogers acquired 144,000 shares of the stock in a transaction dated Friday, June 6th. The stock was purchased at an average cost of GBX 137 ($1.85) per share, with a total value of £197,280 ($266,342.65). Also, insider Derek Mapp acquired 7,235 shares of the stock in a transaction dated Tuesday, July 1st. The stock was bought at an average cost of GBX 141 ($1.90) per share, with a total value of £10,201.35 ($13,772.58). In the last ninety days, insiders bought 155,602 shares of company stock valued at $21,363,980. 5.65% of the stock is owned by company 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.