Mitie Group (LON:MTO) Stock Price Passes Above 200-Day Moving Average - Time to Sell?

Shares of Mitie Group plc (LON:MTO - Get Free Report) 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 ($1.73) and traded as high as GBX 140.60 ($1.91). Mitie Group shares last traded at GBX 139.81 ($1.90), with a volume of 2,362,439 shares.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank boosted their target price on Mitie Group from GBX 160 ($2.18) to GBX 165 ($2.24) and gave the stock a "buy" rating in a research report on Wednesday, April 16th.

Mitie Group Stock Down 0.6%

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 firm has a 50 day simple moving average of GBX 147.55 and a two-hundred day simple moving average of GBX 127.62. The stock has a market cap of £1.75 billion, a P/E ratio of 14.45, a P/E/G ratio of 10.10 and a beta of 1.41.

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

Mitie Group declared that its Board of Directors 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 purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Insider Transactions at Mitie Group

In other Mitie Group news, insider Salma Shah purchased 2,360 shares of Mitie Group stock in a transaction that occurred on Tuesday, July 1st. The stock was acquired at an average price of GBX 141 ($1.92) per share, for a total transaction of £3,327.60 ($4,523.65). Also, insider Derek Mapp purchased 7,235 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was acquired at an average price of GBX 141 ($1.92) per share, with a total value of £10,201.35 ($13,868.07). Insiders have bought a total of 155,721 shares of company stock valued at $21,379,156 over the last 90 days. 5.65% of the stock is currently owned by corporate 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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