Mitie Group (LON:MTO) Shares Cross Above 200 Day Moving Average - Time to Sell?

Key Points

• Mitie Group shares rose above their 200-day moving average, reaching GBX 207.20 and last trading at GBX 206.43, compared with a 200-day average of GBX 172.91.
• Analyst sentiment remains positive, with four Buy ratings and one Hold rating producing a consensus “Moderate Buy” view; however, the average price target of GBX 192.20 is below the current share price.
• Mitie reported quarterly earnings of GBX 13.60 per share, while insiders purchased 3,812 shares over the past three months, suggesting some management confidence despite the company’s thin 1.47% net margin and high debt-to-equity ratio.

Shares of Mitie Group plc (LON:MTO - Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 172.91 and traded as high as GBX 207.20. Mitie Group shares last traded at GBX 206.43, with a volume of 4,229,615 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MTO. Royal Bank Of Canada lowered their target price on Mitie Group from GBX 205 to GBX 200 and set an "outperform" rating for the company in a report on Friday, June 5th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a GBX 195 price target on shares of Mitie Group in a report on Monday, June 8th. Finally, Berenberg Bank restated a "buy" rating and set a GBX 230 price objective on shares of Mitie Group in a research note on Wednesday, July 22nd. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 192.20.

Mitie Group Stock Performance

The business's 50-day moving average price is GBX 169.95 and its 200-day moving average price is GBX 172.91. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 107.60. The stock has a market cap of £2.57 billion, a PE ratio of 33.83, a P/E/G ratio of 10.10 and a beta of 0.87.

Mitie Group (LON:MTO - Get Free Report) last announced its earnings results on Thursday, June 4th. The company reported GBX 13.60 earnings per share 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 for the quarter. As a group, equities research analysts expect that Mitie Group plc will post 10.9360519 earnings per share for the current fiscal year.

Insider Transactions at Mitie Group

In other Mitie Group news, insider Salma Shah purchased 2,220 shares of the business's stock in a transaction that occurred on Wednesday, July 1st. The shares were bought at an average price of GBX 149 per share, for a total transaction of £3,307.80. Also, insider Mary Reilly purchased 1,503 shares of Mitie Group stock in a transaction on Wednesday, July 1st. The shares were acquired at an average cost of GBX 149 per share, with a total value of £2,239.47. Insiders acquired a total of 3,812 shares of company stock valued at $569,768 over the last three months. Company insiders own 1.84% of the company's stock.

Mitie Group Company Profile

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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