Mitie Group plc (LON:MTO - Get Free Report)'s stock price hit a new 52-week high during trading on Friday . The stock traded as high as GBX 156.40 ($2.11) and last traded at GBX 155.45 ($2.10), with a volume of 1160580 shares changing hands. The stock had previously closed at GBX 155 ($2.09).
Analyst Ratings Changes
Separately, Berenberg Bank upped their price objective on Mitie Group from GBX 160 ($2.16) to GBX 165 ($2.23) and gave the company a "buy" rating in a research report on Wednesday, April 16th.
View Our Latest Research Report on MTO
Mitie Group Stock Up 0.8%
The business's 50 day moving average price is GBX 134.28 and its 200 day moving average price is GBX 120.31. The firm has a market cap of £2.00 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 10.10 and a beta of 1.41. 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 announced that its board has initiated a stock repurchase program on Wednesday, April 16th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.
Insider Activity
In related news, insider Derek Mapp bought 8,571 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was acquired at an average cost of GBX 115 ($1.55) per share, with a total value of £9,856.65 ($13,319.80). Insiders have acquired 8,797 shares of company stock worth $1,015,714 in the last ninety days. Company insiders own 5.65% of the company's stock.
Mitie Group Company Profile
(
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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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