Mitie Group plc (LON:MTO - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as GBX 151.40 ($2.01) and last traded at GBX 150.60 ($2.00), with a volume of 5353535 shares traded. The stock had previously closed at GBX 148.60 ($1.98).
Analyst Upgrades and Downgrades
Separately, Berenberg Bank lifted their price target on Mitie Group from GBX 160 ($2.13) to GBX 165 ($2.19) and gave the company a "buy" rating in a research report on Wednesday, April 16th.
Read Our Latest Research Report on Mitie Group
Mitie Group Stock Up 2.1 %
The company has a current ratio of 0.90, a quick ratio of 0.83 and a debt-to-equity ratio of 85.41. The firm has a market cap of £1.91 billion, a P/E ratio of 15.77, a price-to-earnings-growth ratio of 10.10 and a beta of 1.41. The stock's fifty day moving average is GBX 122.12 and its two-hundred day moving average is GBX 116.38.
Mitie Group announced that its Board of Directors has initiated a share buyback plan on Wednesday, April 16th that allows the company to buyback 0 shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.
Insider Buying and Selling
In other news, insider Derek Mapp bought 8,571 shares of Mitie Group stock in a transaction that occurred on Tuesday, April 1st. The shares were acquired at an average price of GBX 115 ($1.53) per share, with a total value of £9,856.65 ($13,102.02). 5.65% of the stock is owned by company insiders.
Mitie Group Company Profile
(
Get Free Report)
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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