Mitie Group (LON:MTO) Reaches New 52-Week High - Still a Buy?

Mitie Group plc (LON:MTO - Get Free Report) reached a new 52-week high during trading on Thursday . The company traded as high as GBX 159 ($2.14) and last traded at GBX 158.20 ($2.13), with a volume of 13132042 shares traded. The stock had previously closed at GBX 157 ($2.11).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank raised their price target on Mitie Group from GBX 160 ($2.15) to GBX 165 ($2.22) and gave the stock a "buy" rating in a research report on Wednesday, April 16th.

Mitie Group Stock Performance

The firm has a market cap of £1.98 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 10.10 and a beta of 1.41. The stock has a 50-day moving average of GBX 136.90 and a 200-day moving average of GBX 121.29. 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 declared that its board has authorized a stock buyback program on Wednesday, April 16th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Mitie Group news, insider Derek Mapp bought 8,571 shares of Mitie Group stock in a transaction dated Tuesday, April 1st. The stock was bought at an average cost of GBX 115 ($1.55) per share, for a total transaction of £9,856.65 ($13,262.45). Insiders have purchased 8,797 shares of company stock valued at $1,015,714 in the last 90 days. 5.65% of the stock is currently owned by 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.