Mitie Group (LON:MTO) Stock Crosses Above 200-Day Moving Average – Here’s Why

Mitie Group plc (LON:MTO) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 172.91 and traded as high as GBX 207.20. Mitie Group shares last traded at GBX 206.43, with a volume of 4,229,615 shares trading hands.

Analyst Ratings Changes

Several brokerages have recently issued reports on MTO. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 195 price objective on shares of Mitie Group in a report on Monday, June 8th. Berenberg Bank reiterated a “buy” rating and set a GBX 230 price target on shares of Mitie Group in a research report on Wednesday, July 22nd. Finally, Royal Bank Of Canada decreased their price target on Mitie Group from GBX 205 to GBX 200 and set an “outperform” rating for the company in a report on Friday, June 5th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of GBX 192.20.

Mitie Group Trading Down 0.1%

The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 107.60. The company’s 50-day moving average is GBX 169.95 and its 200 day moving average is GBX 172.91. The company has a market cap of £2.57 billion, a price-to-earnings ratio of 33.83, a price-to-earnings-growth ratio of 10.10 and a beta of 0.87.

Mitie Group (LON:MTO) last issued its quarterly earnings data on Thursday, June 4th. The company reported GBX 13.60 earnings per share for the quarter. Mitie Group had a net margin of 1.47% and a return on equity of 15.86%. The business had revenue of GBX 561.86 billion during the quarter. Research analysts predict that Mitie Group plc will post 10.9360519 EPS for the current year.

Insiders Place Their Bets

In related news, insider Phillip Bentley sold 248,985 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of GBX 165, for a total value of £410,825.25. Also, insider Mary Reilly purchased 1,503 shares of the stock in a transaction on Wednesday, July 1st. The shares were acquired at an average price of GBX 149 per share, for a total transaction of £2,239.47. Over the last quarter, insiders purchased 3,812 shares of company stock worth $569,768. 1.84% of the stock is owned by company insiders.

Mitie Group Company Profile

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.