Mitie Group (LON:MTO) Trading Down 12% - Should You Sell?

Shares of Mitie Group plc (LON:MTO - Get Free Report) fell 12% during mid-day trading on Thursday . The company traded as low as GBX 139.40 ($1.89) and last traded at GBX 140.40 ($1.91). 7,674,054 shares changed hands during trading, an increase of 74% from the average session volume of 4,414,511 shares. The stock had previously closed at GBX 159.60 ($2.17).

Analysts Set New Price Targets

Separately, Berenberg Bank raised their price target on shares of Mitie Group from GBX 160 ($2.17) to GBX 165 ($2.24) and gave the company a "buy" rating in a research report on Wednesday, April 16th.

Mitie Group Stock Down 13.2%

The company has a market capitalization of £1.75 billion, a PE ratio of 14.41, 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. The stock's 50 day moving average is GBX 139.87 and its 200 day moving average is GBX 122.35.

Mitie Group (LON:MTO - Get Free Report) last posted its earnings results on Thursday, June 5th. The company reported GBX 12.70 ($0.17) earnings per share (EPS) for the quarter. Mitie Group had a net margin of 2.52% and a return on equity of 28.24%. On average, sell-side analysts anticipate that Mitie Group plc will post 10.9360519 EPS for the current fiscal year.

Mitie Group declared that its board has initiated a stock repurchase program on Wednesday, April 16th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at Mitie Group

In related news, insider Derek Mapp bought 8,571 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The shares were bought at an average price of GBX 115 ($1.56) per share, for a total transaction of £9,856.65 ($13,384.91). In the last ninety days, insiders bought 8,797 shares of company stock worth $1,015,714. 5.65% of the stock is owned by corporate 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.