Mears Group (LON:MER) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Mears Group plc (LON:MER)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 352.54 and traded as high as GBX 363.50. Mears Group shares last traded at GBX 361, with a volume of 251,369 shares changing hands.

Analysts Set New Price Targets

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

Mears Group Price Performance

The stock has a market capitalization of £293.78 million, a PE ratio of 6.67, a P/E/G ratio of 0.68 and a beta of 1.26. 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 stock’s 50-day moving average is GBX 360.08 and its 200 day moving average is GBX 352.54.

About Mears Group

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.