Mitie Group (LON:MTO) Shares Pass Below 200-Day Moving Average – Here’s Why

Shares of Mitie Group plc (LON:MTO) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 139.71 ($1.88) and traded as low as GBX 136.80 ($1.84). Mitie Group shares last traded at GBX 136.81 ($1.84), with a volume of 874,844 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MTO shares. Deutsche Bank Aktiengesellschaft upped their price target on Mitie Group from GBX 165 to GBX 170 and gave the stock a “buy” rating in a report on Monday, August 11th. Berenberg Bank reiterated a “buy” rating and issued a GBX 175 target price on shares of Mitie Group in a research note on Tuesday, September 2nd. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a GBX 145 target price on shares of Mitie Group in a report on Thursday, September 11th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 163.33.

Mitie Group Stock Performance

The firm has a market cap of £1.77 billion, a PE ratio of 1,805.26, a PEG ratio of 10.10 and a beta of 1.41. The company has a quick ratio of 0.83, a current ratio of 0.90 and a debt-to-equity ratio of 85.41. The company has a 50-day simple moving average of GBX 141.84 and a two-hundred day simple moving average of GBX 139.71.

Insider Activity at Mitie Group

In related news, insider Salma Shah bought 2,423 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were purchased at an average cost of GBX 138 per share, for a total transaction of £3,343.74. Also, insider Mary Reilly purchased 1,844 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was bought at an average cost of GBX 138 per share, for a total transaction of £2,544.72. Over the last 90 days, insiders purchased 4,579 shares of company stock worth $633,853. 1.77% of the stock is owned by company 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.