Mitie Group's (MTO) "Buy" Rating Reaffirmed at Berenberg Bank

Key Points

• Berenberg Bank has reaffirmed a "Buy" rating for Mitie Group, setting a price target of GBX 175, indicating a potential upside of 27.31% from its previous close.
• Deutsche Bank also upgraded its price target on Mitie Group to GBX 170, with two investment analysts presently rating the stock as Buy.
• Insider buying activity includes notable transactions by Derek Mapp and Christopher Rogers, with over 155,000 shares purchased by insiders in the last quarter.

Berenberg Bank restated their buy rating on shares of Mitie Group (LON:MTO - Free Report) in a research report report published on Tuesday, Marketbeat.com reports. Berenberg Bank currently has a GBX 175 price target on the stock.

Separately, Deutsche Bank Aktiengesellschaft lifted their price target on Mitie Group from GBX 165 to GBX 170 and gave the company a "buy" rating in a research report on Monday, August 11th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, Mitie Group currently has an average rating of "Buy" and an average target price of GBX 172.50.

Mitie Group Trading Down 0.7%

Shares of LON MTO traded down GBX 1 during trading hours on Tuesday, hitting GBX 139.40. The company's stock had a trading volume of 115,470,867 shares, compared to its average volume of 4,967,463. The company has a debt-to-equity ratio of 85.41, a quick ratio of 0.83 and a current ratio of 0.90. The stock has a market cap of £1.68 billion, a price-to-earnings ratio of 1,834.21, a P/E/G ratio of 10.10 and a beta of 1.41. Mitie Group has a 12 month low of GBX 101 and a 12 month high of GBX 160. The business has a 50-day simple moving average of GBX 141.44 and a 200-day simple moving average of GBX 135.93.

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

Insider Activity

In other Mitie Group news, insider Mary Reilly bought 1,796 shares of the stock in a transaction dated Tuesday, July 1st. The stock was purchased at an average cost of GBX 141 per share, for a total transaction of £2,532.36. Also, insider Derek Mapp bought 7,235 shares of the stock in a transaction dated Tuesday, July 1st. The shares were acquired at an average price of GBX 141 per share, with a total value of £10,201.35. Over the last ninety days, insiders acquired 11,704 shares of company stock worth $1,651,076. Insiders own 1.67% of the company's stock.

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.