Mitie Group (LON:MTO) Share Price Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• Mitie Group's share price has crossed above its 200-day moving average, with the last traded price at GBX 138.60 ($1.86) and a daily trading volume of nearly 1.9 million shares.
• Analysts are generally optimistic, with Deutsche Bank raising its price target from GBX 165 to GBX 170 and giving Mitie Group a "buy" rating.
• Insider activity includes a notable sale by Phillip Bentley of 2 million shares at an average price of GBX 138, while Derek Mapp purchased 7,235 shares at GBX 141 each.

Mitie Group plc (LON:MTO - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 138.32 ($1.85) and traded as high as GBX 139 ($1.86). Mitie Group shares last traded at GBX 138.60 ($1.86), with a volume of 1,885,165 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Mitie Group from GBX 165 to GBX 170 and gave the company a "buy" rating in a report on Monday, August 11th. Jefferies Financial Group reissued a "hold" rating and set a GBX 145 target price on shares of Mitie Group in a research note on Thursday, September 11th. Finally, Berenberg Bank restated a "buy" rating and issued a GBX 175 target price on shares of Mitie Group in a report on Tuesday, September 2nd. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of GBX 163.33.

Mitie Group Trading Up 1.6%

The business's 50-day simple moving average is GBX 142.05 and its 200-day simple moving average is GBX 138.32. The company has a market cap of £1.79 billion, a PE ratio of 1,823.68, a P/E/G ratio of 10.10 and a beta of 1.41. The company has a current ratio of 0.90, a quick ratio of 0.83 and a debt-to-equity ratio of 85.41.

Insider Activity at Mitie Group

In other news, insider Derek Mapp bought 7,235 shares of the stock in a transaction on Tuesday, July 1st. The shares were purchased at an average price of GBX 141 per share, for a total transaction of £10,201.35. Also, insider Phillip Bentley sold 2,000,032 shares of the company's stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of GBX 138, for a total value of £2,760,044.16. Over the last ninety days, insiders acquired 11,703 shares of company stock valued at $1,651,138. 1.67% of the stock is 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.

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