Mitie Group (LON:MTO) Sets New 1-Year High – Still a Buy?

Mitie Group plc (LON:MTO)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as GBX 214 and last traded at GBX 210.57, with a volume of 46591145 shares changing hands. The stock had previously closed at GBX 151.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MTO. Berenberg Bank upped their price target on shares of Mitie Group from GBX 215 to GBX 230 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Royal Bank Of Canada cut their price objective 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. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 195 price objective on shares of Mitie Group in a research note on Monday, June 8th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Mitie Group has a consensus rating of “Moderate Buy” and a consensus price target of GBX 192.20.

Mitie Group Stock Up 39.1%

The business has a 50 day moving average of GBX 161.29 and a two-hundred day moving average of GBX 169.22. The stock has a market capitalization of £2.62 billion, a PE ratio of 34.43, a PEG ratio of 10.10 and a beta of 0.87. The company has a debt-to-equity ratio of 107.60, a quick ratio of 0.83 and a current ratio of 0.89.

Mitie Group (LON:MTO) last posted its earnings results on Thursday, June 4th. The company reported GBX 13.60 earnings per share (EPS) for the quarter. The company had revenue of GBX 561.86 billion for the quarter. Mitie Group had a return on equity of 15.86% and a net margin of 1.47%. Analysts predict that Mitie Group plc will post 10.9360519 EPS for the current year.

Insider Activity

In other news, insider Mary Reilly purchased 1,503 shares of the stock in a transaction dated Wednesday, July 1st. The shares were acquired at an average cost of GBX 149 per share, for a total transaction of £2,239.47. Also, insider Phillip Bentley sold 248,985 shares of Mitie Group stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of GBX 165, for a total transaction of £410,825.25. Insiders have acquired a total of 3,812 shares of company stock valued at $569,768 over the last 90 days. 1.84% of the stock is currently 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.