Mitie Group (LON:MTO) Share Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Mitie Group shares rose above their 200-day moving average, reaching GBX 211 and closing at GBX 210.60, compared with the 200-day average of GBX 180.91.
• Analyst sentiment remains positive, with three Buy ratings and one Hold rating producing a consensus “Moderate Buy” recommendation and a GBX 201.25 price target—below the latest share price.
• Insider activity was mixed: an insider bought 2,220 shares, while Simon Kirkpatrick sold 656,219 shares for approximately £1.37 million. The company has a market capitalization of about £2.63 billion and a P/E ratio of 34.52.

Mitie Group plc (LON:MTO - Get Free Report)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 180.91 and traded as high as GBX 211. Mitie Group shares last traded at GBX 210.60, with a volume of 2,918,067 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MTO shares. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a GBX 195 price target on shares of Mitie Group in a research report on Monday, June 8th. Royal Bank Of Canada lowered their price objective on shares of Mitie Group from GBX 205 to GBX 200 and set an "outperform" rating for the company in a research report on Friday, June 5th. Finally, Berenberg Bank downgraded Mitie Group to a "hold" rating and reduced their target price for the company from GBX 230 to GBX 219 in a report on Wednesday, September 2nd. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of GBX 201.25.

Mitie Group Price Performance

The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 107.60. The company has a market capitalization of £2.63 billion, a P/E ratio of 34.52, a PEG ratio of 10.10 and a beta of 0.89. The stock has a 50 day moving average price of GBX 204 and a 200 day moving average price of GBX 180.91.

Insider Activity

In other news, insider Salma Shah purchased 2,220 shares of Mitie Group stock in a transaction dated Wednesday, July 1st. The shares were bought at an average cost of GBX 149 per share, for a total transaction of £3,307.80. Also, insider Simon Kirkpatrick sold 656,219 shares of the business's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of GBX 209, for a total value of £1,371,497.71. Over the last three months, insiders have bought 3,867 shares of company stock valued at $584,751. 2.34% 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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