Mitie Group (LON:MTO) Reaches New 52-Week High - Here's Why

Key Points

• Mitie Group shares hit a new 52-week high, rising as high as GBX 214 before last trading at GBX 210.57, well above the prior close of GBX 151. Trading volume was very heavy at 46.6 million shares.
• Analyst sentiment remains mostly positive, with four Buy ratings and one Hold. Recent target-price changes were mixed, but Berenberg lifted its target to GBX 230 and Deutsche Bank reaffirmed a Buy rating.
• The company reported strong recent results and continues to attract attention from insiders, including a large share sale by one executive and a smaller purchase by another. Mitie also posted quarterly EPS of GBX 13.60 and is expected to generate 10.94 EPS for the current fiscal year.

Mitie Group plc (LON:MTO - Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as GBX 214 and last traded at GBX 210.57, with a volume of 46591145 shares changing hands. The stock had previously closed at GBX 151.

Analysts Set New Price Targets

A number of research firms have weighed in on MTO. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a GBX 195 target price on shares of Mitie Group in a research note on Monday, June 8th. Berenberg Bank boosted their target price on shares of Mitie Group from GBX 215 to GBX 230 and gave the company a "buy" rating in a research note on Wednesday, June 24th. Finally, Royal Bank Of Canada cut their price target on shares of Mitie Group from GBX 205 to GBX 200 and set an "outperform" rating on the stock in a report on Friday, June 5th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of GBX 192.20.

Mitie Group Trading Up 39.1%

The stock's 50-day moving average price is GBX 161.29 and its 200 day moving average price is GBX 169.22. The company has a debt-to-equity ratio of 107.60, a current ratio of 0.89 and a quick ratio of 0.83. The firm has a market capitalization of £2.62 billion, a PE ratio of 34.43, a price-to-earnings-growth ratio of 10.10 and a beta of 0.87.

Mitie Group (LON:MTO - Get Free Report) last announced its quarterly earnings results on Thursday, June 4th. The company reported GBX 13.60 earnings per share (EPS) for the quarter. Mitie Group had a return on equity of 15.86% and a net margin of 1.47%.The firm had revenue of GBX 561.86 billion during the quarter. On average, sell-side analysts expect that Mitie Group plc will post 10.9360519 EPS for the current fiscal year.

Insider Transactions at Mitie Group

In other Mitie Group news, insider Simon Kirkpatrick sold 99,531 shares of the company's stock in a transaction on Monday, June 8th. The stock was sold at an average price of GBX 165, for a total value of £164,226.15. Also, insider Salma Shah purchased 2,220 shares of the company's stock in a transaction dated Wednesday, July 1st. The shares were purchased at an average cost of GBX 149 per share, for a total transaction of £3,307.80. In the last quarter, insiders acquired 3,812 shares of company stock valued at $569,768. Company insiders own 1.84% 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.

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