Mitie Group (LON:MTO) Stock Passes Above 200-Day Moving Average – Here’s Why

Mitie Group plc (LON:MTO) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 174.52 and traded as high as GBX 208.80. Mitie Group shares last traded at GBX 208.01, with a volume of 12,550,046 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Berenberg Bank reissued a “buy” rating and set a GBX 230 price objective on shares of Mitie Group in a research report on Wednesday, July 22nd. Royal Bank Of Canada reduced their target price 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 reiterated a “buy” rating and issued a GBX 195 price target 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 given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of GBX 192.20.

Mitie Group Price Performance

The stock has a fifty day simple moving average of GBX 174.08 and a 200-day simple moving average of GBX 174.52. The company has a market capitalization of £2.71 billion, a PE ratio of 34.10, a P/E/G ratio of 10.10 and a beta of 0.90. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 107.60.

Mitie Group (LON:MTO) last released its quarterly earnings data on Thursday, June 4th. The company reported GBX 13.60 EPS for the quarter. The business 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%. Equities analysts anticipate that Mitie Group plc will post 10.9360519 earnings per share for the current year.

Insider Activity at Mitie Group

In related news, insider Salma Shah purchased 2,220 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were purchased at an average cost of GBX 149 per share, for a total transaction of £3,307.80. Also, insider Phillip Bentley sold 248,985 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of GBX 165, for a total transaction of £410,825.25. 1.89% of the stock is currently owned by 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.