Berenberg Bank Reaffirms “Buy” Rating for Mitie Group (LON:MTO)

Mitie Group (LON:MTO)‘s stock had its “buy” rating restated by investment analysts at Berenberg Bank in a report released on Tuesday, Marketbeat Ratings reports. They currently have a GBX 210 price target on the stock. Berenberg Bank’s target price points to a potential upside of 24.26% from the stock’s current price.

A number of other analysts have also weighed in on the company. Royal Bank Of Canada restated an “outperform” rating and issued a GBX 195 target price on shares of Mitie Group in a research note on Thursday, December 4th. Peel Hunt reissued a “buy” rating and set a GBX 191 price objective on shares of Mitie Group in a research note on Thursday, November 20th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 186.20.

Mitie Group Price Performance

Shares of LON MTO traded down GBX 2.20 during midday trading on Tuesday, reaching GBX 169. The company’s stock had a trading volume of 1,798,385 shares, compared to its average volume of 4,861,889. The company has a current ratio of 0.90, a quick ratio of 0.83 and a debt-to-equity ratio of 85.41. Mitie Group has a one year low of GBX 109.18 and a one year high of GBX 173.40. The company has a market cap of £2.15 billion, a price-to-earnings ratio of 23.15, a price-to-earnings-growth ratio of 10.10 and a beta of 1.41. The company has a 50 day moving average price of GBX 164.95 and a 200 day moving average price of GBX 153.09.

Mitie Group (LON:MTO) last issued its quarterly earnings results on Thursday, November 20th. The company reported GBX 5.70 earnings per share for the quarter. Mitie Group had a return on equity of 28.24% and a net margin of 2.52%. On average, equities research analysts expect that Mitie Group will post 10.9360519 EPS for the current year.

Mitie Group announced that its Board of Directors has approved a stock buyback plan on Tuesday, October 14th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Mitie Group news, insider Mary Reilly purchased 1,518 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The shares were acquired at an average price of GBX 167 per share, with a total value of £2,535.06. Also, insider Phillip Bentley acquired 195,000 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was purchased at an average price of GBX 154 per share, with a total value of £300,300. Insiders have purchased 248,603 shares of company stock worth $36,381,610 in the last quarter. 1.81% of the stock is currently 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.