Mears Group (LON:MER) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Shares of Mears Group plc (LON:MER) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 368.32 and traded as high as GBX 401. Mears Group shares last traded at GBX 394, with a volume of 411,097 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MER shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 520 price target on shares of Mears Group in a report on Friday, May 15th. Berenberg Bank reissued a “buy” rating and issued a GBX 565 price objective on shares of Mears Group in a research note on Thursday, March 26th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of GBX 506.

Mears Group Trading Up 0.3%

The company has a current ratio of 0.79, a quick ratio of 0.92 and a debt-to-equity ratio of 157.98. The firm has a market capitalization of £318.43 million, a P/E ratio of 7.33, a P/E/G ratio of 0.68 and a beta of 0.48. The firm has a 50-day moving average of GBX 395.85 and a two-hundred day moving average of GBX 368.50.

Mears Group (LON:MER) last released its quarterly earnings data on Thursday, March 26th. The company reported GBX 55.70 earnings per share for the quarter. Mears Group had a return on equity of 23.94% and a net margin of 4.07%. On average, analysts anticipate that Mears Group plc will post 32.5150732 EPS for the current year.

Mears Group declared that its board has approved a share repurchase program on Wednesday, April 1st that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Andrew C. M. Smith sold 108,303 shares of Mears Group stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of GBX 401, for a total transaction of £434,295.03. Also, insider Lucas Critchley acquired 9,217 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were bought at an average price of GBX 416 per share, with a total value of £38,342.72. Company insiders own 1.76% of the company’s stock.

About Mears Group

Mears Group plc, together with its subsidiaries, provides various outsourced services to the public and private sectors in the United Kingdom. The company offers rapid-response and planned maintenance services to local authorities; gas and repair services; and maintenance and repairs, capital works, energy investment, and regeneration solutions for public buildings, as well as grounds maintenance services. It provides housing management services, which include supply of affordable homes to public and private sectors; emergency and temporary accommodation services; affordable housing/social housing management; housing with care services; private rented sector; stock acquisition; mears housing solutions; and housing services to central government departments.