Mitie Group (LON:MTO) Stock Passes Above 200 Day Moving Average - What's Next?

Mitie Group plc (LON:MTO - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 124.21 ($1.67) and traded as high as GBX 145.20 ($1.96). Mitie Group shares last traded at GBX 144.10 ($1.94), with a volume of 4,126,145 shares.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank raised their price target on shares of Mitie Group from GBX 160 ($2.15) to GBX 165 ($2.22) and gave the company a "buy" rating in a report on Wednesday, April 16th.

Mitie Group Trading Down 0.3%

The stock has a market capitalization of £1.76 billion, a PE ratio of 14.51, a PEG 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. The business's 50-day moving average is GBX 145.36 and its two-hundred day moving average is GBX 124.68.

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

Mitie Group announced that its Board of Directors has initiated a stock buyback plan on Wednesday, April 16th that permits the company to repurchase 0 shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Insider Activity

In other Mitie Group news, insider Christopher Rogers purchased 144,000 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were acquired at an average price of GBX 137 ($1.84) per share, for a total transaction of £197,280 ($265,661.19). Also, insider Derek Mapp acquired 8,571 shares of the stock in a transaction on Tuesday, April 1st. The shares were acquired at an average price of GBX 115 ($1.55) per share, with a total value of £9,856.65 ($13,273.16). Insiders have bought 152,901 shares of company stock worth $20,758,690 over the last 90 days. Company insiders own 5.65% 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.