Mitie Group (LON:MTO) Shares Break Above Two Hundred Day Moving Average – Should You Sell?

Mitie Group plc (LON:MTO)’s share price crossed 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 trading hands.

Wall Street Analysts Forecast Growth

MTO has been the subject of several research analyst reports. Berenberg Bank cut Mitie Group to a “hold” rating and reduced their price objective for the stock from GBX 230 to GBX 219 in a research note on Wednesday, September 2nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 195 target price on shares of Mitie Group in a research report on Monday, June 8th. Finally, Royal Bank Of Canada reduced their price target 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. 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, Mitie Group currently has a consensus rating of “Moderate Buy” and an average price target of GBX 201.25.

Mitie Group Stock 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 firm has a market cap of £2.63 billion, a price-to-earnings ratio of 34.49, a PEG ratio of 10.10 and a beta of 0.89. The company has a fifty day moving average price of GBX 205.21 and a 200-day moving average price of GBX 181.17.

Insiders Place Their Bets

In other news, insider Mary Reilly acquired 1,503 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were acquired at an average price of GBX 149 per share, with a total value of £2,239.47. Also, insider Simon Kirkpatrick sold 656,219 shares of Mitie Group stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of GBX 209, for a total transaction of £1,371,497.71. In the last 90 days, insiders have purchased 3,867 shares of company stock worth $584,751. Corporate insiders own 2.34% of the company’s stock.

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.