Mitie Group (LON:MTO) Shares Cross Above 200 Day Moving Average – Should You Sell?

Mitie Group plc (LON:MTO)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 115.85 ($1.46) and traded as high as GBX 120 ($1.52). Mitie Group shares last traded at GBX 118.93 ($1.50), with a volume of 4,359,989 shares trading hands.

Wall Street Analyst Weigh In

Separately, Berenberg Bank started coverage on shares of Mitie Group in a research report on Tuesday, January 28th. They issued a “buy” rating and a GBX 160 ($2.02) price target on the stock.

Mitie Group Stock Performance

The firm’s 50 day moving average price is GBX 113.60 and its 200-day moving average price is GBX 115.85. The firm has a market cap of £1.50 billion, a price-to-earnings ratio of 12.36, a P/E/G ratio of 10.10 and a beta of 1.41. The company has a debt-to-equity ratio of 85.41, a current ratio of 0.90 and a quick ratio of 0.83.

Mitie Group (LON:MTO) last posted its quarterly earnings results on Thursday, November 21st. The company reported GBX 5.40 ($0.07) earnings per share for the quarter. Mitie Group had a net margin of 2.52% and a return on equity of 28.24%. On average, analysts anticipate that Mitie Group plc will post 10.9360519 earnings per share for the current year.

Insiders Place Their Bets

In other Mitie Group news, insider Derek Mapp purchased 8,802 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were purchased at an average price of GBX 111 ($1.40) per share, for a total transaction of £9,770.22 ($12,343.93). Insiders have acquired 9,076 shares of company stock worth $1,007,024 over the last 90 days. Corporate insiders own 5.65% of the company’s stock.

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.