Mitie Group (LON:MTO) Shares Pass Above 200 Day Moving Average - Should You Sell?

Key Points

• Mitie Group shares rose above their 200-day moving average, reaching GBX 210.40 and closing at GBX 209.65 on trading volume of more than 5.2 million shares.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy”; however, the consensus price target of GBX 190 is below the current share price, and one analyst recently downgraded the stock to “hold.”
• The company has a £2.62 billion market capitalization but relatively high valuation metrics, including a P/E ratio of 34.37; insider activity was mixed, with a major share sale by Simon Kirkpatrick and smaller insider purchases.

Mitie Group plc (LON:MTO - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 178.94 and traded as high as GBX 210.40. Mitie Group shares last traded at GBX 209.65, with a volume of 5,264,221 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MTO shares. Royal Bank Of Canada cut their price target on shares of Mitie Group from GBX 205 to GBX 200 and set an "outperform" rating on the stock in a report on Friday, June 5th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a GBX 195 price objective on shares of Mitie Group in a report on Monday, June 8th. Finally, Berenberg Bank downgraded shares of Mitie Group to a "hold" rating and dropped their target price for the stock from GBX 230 to GBX 219 in a research note on Wednesday, September 2nd. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of GBX 190.

Mitie Group Trading Up 0.2%

The company has a debt-to-equity ratio of 107.60, a quick ratio of 0.83 and a current ratio of 0.89. The company has a market capitalization of £2.62 billion, a P/E ratio of 34.37, a PEG ratio of 10.10 and a beta of 0.89. The company's fifty day simple moving average is GBX 193.35 and its 200-day simple moving average is GBX 178.94.

Insider Activity

In other news, insider Simon Kirkpatrick sold 656,219 shares of the business's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of GBX 209, for a total value of £1,371,497.71. Also, insider Mary Reilly acquired 1,503 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The shares were bought at an average price of GBX 149 per share, with a total value of £2,239.47. In the last three months, insiders have purchased 3,795 shares of company stock worth $569,703. 2.34% of the stock is currently 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.

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