ME Group International (LON:MEGP) Hits New 12-Month High - What's Next?

Shares of ME Group International plc (LON:MEGP - Get Free Report) reached a new 52-week high during trading on Friday . The company traded as high as GBX 237.50 ($3.22) and last traded at GBX 224.02 ($3.03), with a volume of 1655010 shares. The stock had previously closed at GBX 230 ($3.11).

Wall Street Analysts Forecast Growth

A number of analysts recently commented on MEGP shares. Canaccord Genuity Group boosted their price objective on shares of ME Group International from GBX 203 ($2.75) to GBX 235 ($3.18) and gave the stock a "buy" rating in a report on Tuesday, February 25th. Berenberg Bank reissued a "buy" rating and set a GBX 305 ($4.13) price objective on shares of ME Group International in a report on Monday, June 2nd.

ME Group International Price Performance

The company has a market cap of £861.23 million, a price-to-earnings ratio of 16.27 and a beta of 1.20. The business's 50-day simple moving average is GBX 208.70 and its 200-day simple moving average is GBX 204.88.

About ME Group International

ME Group International plc LSE: MEGP operates, sells and services a wide range of instant-service vending equipment, primarily aimed at the consumer market. The Group operates vending units across 18 countries and its technological innovation is focused on four principal areas: • Photo.ME - Photobooths and integrated biometric identification solutions • Wash.ME - Unattended laundry services and launderettes • Print.ME - High-quality digital printing kiosks • Feed.ME - Vending equipment for the food service market In addition, the Group operates other vending equipment such as children's rides, amusement machines, and business service equipment. Whilst the Group both sells and services this equipment, the majority of units are owned, operated and maintained by the Group.