Mitie Group (LON:MTO) Stock Price Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• Mitie Group's stock price recently crossed above its 200-day moving average, reaching a high of GBX 145 ($1.95) before trading at GBX 143.18 ($1.93).
• Analysts remain optimistic, with two analysts rating the stock as a "Buy" and a consensus target price set at GBX 172.50.
• Recent insider activity includes significant purchases by two insiders, with a total of 155,704 shares bought in the last 90 days, indicating insider confidence in the company's future.

Mitie Group plc (LON:MTO - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 134.79 ($1.82) and traded as high as GBX 145 ($1.96). Mitie Group shares last traded at GBX 143.18 ($1.93), with a volume of 4,211,531 shares.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on MTO shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of Mitie Group from GBX 165 to GBX 170 and gave the stock a "buy" rating in a report on Monday, August 11th. Berenberg Bank raised their price objective on shares of Mitie Group from GBX 165 to GBX 175 and gave the stock a "buy" rating in a research note on Monday, August 4th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Mitie Group currently has a consensus rating of "Buy" and an average price target of GBX 172.50.

Mitie Group Trading Down 0.8%

The company has a current ratio of 0.90, a quick ratio of 0.83 and a debt-to-equity ratio of 85.41. The company has a market cap of £1.69 billion, a PE ratio of 1,842.11, a P/E/G ratio of 10.10 and a beta of 1.41. The business's 50-day simple moving average is GBX 141.75 and its 200-day simple moving average is GBX 135.27.

Mitie Group (LON:MTO - Get Free Report) last released its earnings results on Thursday, June 5th. The company reported GBX 12.70 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, analysts expect that Mitie Group plc will post 10.9360519 EPS for the current fiscal year.

Insider Activity at Mitie Group

In other Mitie Group news, insider Mary Reilly purchased 1,796 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were acquired at an average price of GBX 141 per share, for a total transaction of £2,532.36. Also, insider Derek Mapp purchased 7,235 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were acquired at an average price of GBX 141 per share, for a total transaction of £10,201.35. Insiders have purchased 155,704 shares of company stock worth $21,379,076 in the last quarter. 1.66% of the stock is owned by corporate 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.