Mitie Group plc (LON:MTO - Get Free Report)'s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 140.58 ($1.87) and traded as high as GBX 158.60 ($2.11). Mitie Group shares last traded at GBX 156.95 ($2.09), with a volume of 20,864,773 shares changing hands.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the company. Jefferies Financial Group reiterated a "hold" rating and issued a GBX 145 target price on shares of Mitie Group in a research note on Thursday, September 11th. Deutsche Bank Aktiengesellschaft upped their target price on Mitie Group from GBX 165 to GBX 170 and gave the company a "buy" rating in a research note on Monday, August 11th. Finally, Berenberg Bank reiterated a "buy" rating and issued a GBX 175 target price on shares of Mitie Group in a research note on Tuesday, September 2nd. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Mitie Group presently has an average rating of "Moderate Buy" and an average price target of GBX 163.33.
View Our Latest Report on Mitie Group
Mitie Group Price Performance
The company has a market capitalization of £2.04 billion, a price-to-earnings ratio of 2,076.32, a price-to-earnings-growth ratio of 10.10 and a beta of 1.41. The company has a quick ratio of 0.83, a current ratio of 0.90 and a debt-to-equity ratio of 85.41. The company has a 50 day simple moving average of GBX 141.82 and a 200 day simple moving average of GBX 140.58.
Mitie Group announced that its Board of Directors has approved a stock buyback program on Tuesday, October 14th that permits the company to buyback 0 shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.
Insiders Place Their Bets
In other news, insider Salma Shah purchased 2,423 shares of the company's stock in a transaction on Wednesday, October 1st. The stock was bought at an average cost of GBX 138 per share, for a total transaction of £3,343.74. 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. Insiders bought 4,472 shares of company stock worth $618,980 over the last three months. 1.77% of the stock is owned by insiders.
About Mitie Group
(
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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.
Further Reading
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