Mitie Group (LON:MTO) Stock Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Mitie Group plc has seen its stock price rise above the 200-day moving average, currently trading at GBX 145.40 ($1.96), with a volume of over 4.3 million shares exchanged.
• Analysts from Berenberg Bank and Deutsche Bank have issued upgrades to Mitie Group's stock, raising their price targets to GBX 175 ($2.36) and GBX 170 ($2.30), respectively.
• Insider transactions show significant activity, with insiders acquiring a total of 155,704 shares valued at approximately $21.4 million in the last quarter.

Mitie Group plc (LON:MTO - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 133.71 ($1.81) and traded as high as GBX 147.40 ($1.99). Mitie Group shares last traded at GBX 145.40 ($1.96), with a volume of 4,382,103 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Berenberg Bank upped their price target on shares of Mitie Group from GBX 165 ($2.23) to GBX 175 ($2.36) and gave the company a "buy" rating in a report on Monday, August 4th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Mitie Group from GBX 165 ($2.23) to GBX 170 ($2.30) and gave the company a "buy" rating in a research note on Monday, August 11th.

Mitie Group Stock Down 0.8%

The firm's 50 day moving average is GBX 141.64 and its 200-day moving average is GBX 133.71. 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 firm has a market cap of £1.83 billion, a PE ratio of 15.11, a P/E/G ratio of 10.10 and a beta of 1.41.

Mitie Group (LON:MTO - Get Free Report) last posted its quarterly 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%. As a group, equities research analysts expect that Mitie Group plc will post 10.9360519 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Salma Shah acquired 2,360 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were purchased at an average cost of GBX 141 ($1.90) per share, for a total transaction of £3,327.60 ($4,494.93). Also, insider Derek Mapp acquired 7,235 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was purchased at an average price of GBX 141 ($1.90) per share, for a total transaction of £10,201.35 ($13,780.02). In the last quarter, insiders have bought 155,704 shares of company stock valued at $21,379,076. 5.65% of the stock is owned by company 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.

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