Mitie Group (LON:MTO) Shares Up 12.9% - What's Next?

Key Points

• Mitie Group plc's shares surged by 12.9%, reaching a last traded price of GBX 156.95, driven by a significant trading volume increase of 334% from its average.
• Analysts maintain a consensus rating of "Moderate Buy" for Mitie Group, with price targets ranging from GBX 145 to GBX 175.
• Insider purchases indicate confidence in the company, with notable transactions totaling £5,888 made by two insiders earlier this month.

Mitie Group plc (LON:MTO - Get Free Report)'s share price traded up 12.9% during mid-day trading on Tuesday . The stock traded as high as GBX 158.60 ($2.11) and last traded at GBX 156.95 ($2.09). 20,864,773 shares changed hands during trading, an increase of 334% from the average session volume of 4,804,687 shares. The stock had previously closed at GBX 139 ($1.85).

Analyst Ratings Changes

Several research analysts have commented on the stock. Jefferies Financial Group reissued a "hold" rating and set a GBX 145 price target on shares of Mitie Group in a research note on Thursday, September 11th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Mitie Group from GBX 165 to GBX 170 and gave the stock a "buy" rating in a research note on Monday, August 11th. Finally, Berenberg Bank reissued a "buy" rating and set a GBX 175 price objective on shares of Mitie Group in a research report on Tuesday, September 2nd. Two investment 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, Mitie Group presently has an average rating of "Moderate Buy" and a consensus price target of GBX 163.33.

Mitie Group Stock Performance

The stock has a market cap of £2.03 billion, a P/E ratio of 2,065.13, a PEG ratio of 10.10 and a beta of 1.41. The company has a debt-to-equity ratio of 85.41, a current ratio of 0.90 and a quick ratio of 0.83. The firm's 50-day moving average price is GBX 141.82 and its 200-day moving average price is GBX 140.58.

Insider Activity

In other news, insider Mary Reilly acquired 1,844 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The stock was purchased at an average cost of GBX 138 per share, for a total transaction of £2,544.72. Also, insider Salma Shah acquired 2,423 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The stock was purchased at an average price of GBX 138 per share, with a total value of £3,343.74. Over the last ninety days, insiders purchased 4,472 shares of company stock valued at $618,980. 1.77% of the stock is currently owned by company insiders.

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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