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

Mitie Group plc (LON:MTO - Get Free Report) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 125.46 ($1.72) and traded as high as GBX 143.68 ($1.97). Mitie Group shares last traded at GBX 140.87 ($1.93), with a volume of 2,703,587 shares traded.

Wall Street Analyst Weigh In

Separately, Berenberg Bank lifted their price target on Mitie Group from GBX 160 ($2.20) to GBX 165 ($2.26) and gave the stock a "buy" rating in a research report on Wednesday, April 16th.

Mitie Group Stock Performance

The company has a market cap of £1.81 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 10.10 and a beta of 1.41. The firm has a 50-day simple moving average of GBX 147.15 and a 200 day simple moving average of GBX 126.14. The company has a quick ratio of 0.83, a current ratio of 0.90 and a debt-to-equity ratio of 85.41.

Mitie Group (LON:MTO - Get Free Report) last released its quarterly earnings results 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, sell-side analysts predict that Mitie Group plc will post 10.9360519 earnings per share for the current fiscal year.

Mitie Group declared that its board has initiated a share buyback plan on Wednesday, April 16th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Insider Activity

In related news, insider Christopher Rogers bought 144,000 shares of the company's stock in a transaction dated Friday, June 6th. The shares were acquired at an average price of GBX 137 ($1.88) per share, with a total value of £197,280 ($270,728.69). Also, insider Derek Mapp bought 8,571 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was bought at an average cost of GBX 115 ($1.58) per share, for a total transaction of £9,856.65 ($13,526.35). Over the last 90 days, insiders have purchased 152,901 shares of company stock valued at $20,758,690. Company insiders own 5.65% of the company's stock.

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.