ME Group International (LON:MEGP) Stock Price Up 9% - Time to Buy?

Shares of ME Group International plc (LON:MEGP - Get Free Report) were up 9% during trading on Thursday . The company traded as high as GBX 230 ($3.09) and last traded at GBX 230 ($3.09). Approximately 4,082,390 shares were traded during mid-day trading, an increase of 388% from the average daily volume of 837,333 shares. The stock had previously closed at GBX 211 ($2.83).

Analyst Upgrades and Downgrades

A number of equities analysts have commented on MEGP shares. Canaccord Genuity Group lifted their target price on ME Group International from GBX 203 ($2.73) to GBX 235 ($3.15) and gave the company a "buy" rating in a research note on Tuesday, February 25th. Berenberg Bank restated a "buy" rating and set a GBX 305 ($4.09) price objective on shares of ME Group International in a research report on Monday, June 2nd.

ME Group International Price Performance

The company has a market cap of £868.57 million, a price-to-earnings ratio of 16.41 and a beta of 1.20. The firm's fifty day moving average price is GBX 207.88 and its 200-day moving average price is GBX 204.91.

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.