Mitie Group (LON:MTO) Hits New 12-Month High – Time to Buy?

Mitie Group plc (LON:MTO)’s share price hit a new 52-week high on Wednesday . The company traded as high as GBX 188 and last traded at GBX 185.30, with a volume of 167332 shares trading hands. The stock had previously closed at GBX 185.70.

Analysts Set New Price Targets

A number of analysts have weighed in on MTO shares. Royal Bank Of Canada restated an “outperform” rating and issued a GBX 195 target price on shares of Mitie Group in a research report on Monday, February 2nd. Berenberg Bank restated a “buy” rating and issued a GBX 210 target price on shares of Mitie Group in a research report on Tuesday, January 27th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Mitie Group from GBX 170 to GBX 190 and gave the company a “buy” rating in a research report on Tuesday, January 27th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of GBX 186.20.

Mitie Group Trading Down 0.7%

The company has a market cap of £2.30 billion, a price-to-earnings ratio of 25.00, a price-to-earnings-growth ratio of 10.10 and a beta of 0.89. The business’s fifty day moving average price is GBX 175.51 and its 200 day moving average price is GBX 166.11. The company has a debt-to-equity ratio of 120.44, a current ratio of 0.94 and a quick ratio of 0.83.

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.