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

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 127.62 ($1.72) and traded as high as GBX 140.60 ($1.90). Mitie Group shares last traded at GBX 139.81 ($1.89), with a volume of 2,362,439 shares trading hands.

Analysts Set New Price Targets

Separately, Berenberg Bank raised their price objective on shares of Mitie Group from GBX 160 ($2.16) to GBX 165 ($2.23) and gave the company a "buy" rating in a research report on Wednesday, April 16th.

Mitie Group Stock Performance

The stock has a market cap of £1.73 billion, a P/E ratio of 14.28, a price-to-earnings-growth ratio of 10.10 and a beta of 1.41. The firm's 50-day moving average is GBX 147.03 and its two-hundred day moving average is GBX 128.20. 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 issued its quarterly earnings data on Thursday, June 5th. The company reported GBX 12.70 ($0.17) earnings per share for the quarter. Mitie Group had a net margin of 2.52% and a return on equity of 28.24%. As a group, research analysts expect that Mitie Group plc will post 10.9360519 EPS for the current year.

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

Insider Activity

In other news, insider Mary Reilly purchased 1,796 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were bought at an average price of GBX 141 ($1.90) per share, with a total value of £2,532.36 ($3,416.11). Also, insider Christopher Rogers purchased 144,000 shares of the company's stock in a transaction dated Friday, June 6th. The stock was purchased at an average cost of GBX 137 ($1.85) per share, for a total transaction of £197,280 ($266,127.07). In the last ninety days, insiders purchased 155,721 shares of company stock worth $21,379,156. 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.