Mears Group (LON:MER) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Mears Group plc (LON:MER) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 353.74 and traded as high as GBX 383.50. Mears Group shares last traded at GBX 370, with a volume of 2,278,341 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Berenberg Bank boosted their target price on shares of Mears Group from GBX 550 to GBX 565 and gave the company a “buy” rating in a report on Thursday, January 22nd. Panmure Gordon reiterated a “buy” rating and issued a GBX 499 price target on shares of Mears Group in a report on Monday, December 8th. Finally, Peel Hunt restated a “buy” rating and set a GBX 440 price objective on shares of Mears Group in a report on Monday, December 8th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of GBX 503.50.

Mears Group Stock Performance

The stock has a 50 day simple moving average of GBX 359.59 and a 200 day simple moving average of GBX 353.74. The company has a quick ratio of 0.92, a current ratio of 0.87 and a debt-to-equity ratio of 139.90. The company has a market cap of £306.15 million, a price-to-earnings ratio of 6.95, a PEG ratio of 0.68 and a beta of 1.26.

Mears Group Company Profile

Mears Group plc, together with its subsidiaries, provides various outsourced services to the public and private sectors in the United Kingdom. The company offers rapid-response and planned maintenance services to local authorities; gas and repair services; and maintenance and repairs, capital works, energy investment, and regeneration solutions for public buildings, as well as grounds maintenance services. It provides housing management services, which include supply of affordable homes to public and private sectors; emergency and temporary accommodation services; affordable housing/social housing management; housing with care services; private rented sector; stock acquisition; mears housing solutions; and housing services to central government departments.