Mitie Group (LON:MTO) Stock Price Down 13.2% - Should You Sell?

Shares of Mitie Group plc (LON:MTO - Get Free Report) were down 13.2% on Thursday . The company traded as low as GBX 137.83 ($1.87) and last traded at GBX 138.60 ($1.88). Approximately 14,960,798 shares changed hands during trading, an increase of 234% from the average daily volume of 4,482,611 shares. The stock had previously closed at GBX 159.60 ($2.17).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank raised their price target on shares of Mitie Group from GBX 160 ($2.17) to GBX 165 ($2.24) and gave the stock a "buy" rating in a research report on Wednesday, April 16th.

Mitie Group Price Performance

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 has a market cap of £1.75 billion, a price-to-earnings ratio of 14.41, a P/E/G ratio of 10.10 and a beta of 1.41. The business's 50-day moving average price is GBX 139.87 and its two-hundred day moving average price is GBX 122.35.

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

Mitie Group declared that its Board of Directors has initiated a stock buyback program on Wednesday, April 16th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Derek Mapp bought 8,571 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were bought at an average cost of GBX 115 ($1.56) per share, for a total transaction of £9,856.65 ($13,384.91). Insiders have bought 8,797 shares of company stock worth $1,015,714 over the last ninety days. 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.

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