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

Mitie Group plc (LON:MTO - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 128.64 ($1.73) and traded as high as GBX 138.20 ($1.86). Mitie Group shares last traded at GBX 136.93 ($1.84), with a volume of 2,621,056 shares changing hands.

Analyst Ratings Changes

Separately, Berenberg Bank boosted their target price on shares of Mitie Group from GBX 160 ($2.15) to GBX 165 ($2.21) and gave the company a "buy" rating in a research note on Wednesday, April 16th.

Mitie Group Stock Performance

The firm's 50 day simple moving average is GBX 145.74 and its 200-day simple moving average is GBX 129.02. The company has a debt-to-equity ratio of 85.41, a quick ratio of 0.83 and a current ratio of 0.90. The company has a market capitalization of £1.73 billion, a price-to-earnings ratio of 14.24, a P/E/G ratio of 10.10 and a beta of 1.41.

Mitie Group (LON:MTO - Get Free Report) last announced its 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%. Analysts expect that Mitie Group plc will post 10.9360519 EPS for the current year.

Mitie Group declared that its board has authorized a share buyback program on Wednesday, April 16th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.

Insider Activity at Mitie Group

In related news, insider Derek Mapp purchased 7,235 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were acquired at an average cost of GBX 141 ($1.89) per share, with a total value of £10,201.35 ($13,693.09). Also, insider Christopher Rogers purchased 144,000 shares of the company's stock in a transaction dated Friday, June 6th. The stock was bought at an average cost of GBX 137 ($1.84) per share, for a total transaction of £197,280 ($264,805.37). Over the last ninety days, insiders acquired 155,703 shares of company stock valued at $21,379,029. 5.65% of the stock is owned by 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.