Mitie Group (LON:MTO) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Mitie Group plc (LON:MTO)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 161.56 and traded as high as GBX 173.60. Mitie Group shares last traded at GBX 170.60, with a volume of 19,799,809 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MTO. Royal Bank Of Canada reiterated an “outperform” rating and issued a GBX 195 price target on shares of Mitie Group in a report on Monday, February 2nd. Deutsche Bank Aktiengesellschaft upped their target price on Mitie Group from GBX 170 to GBX 190 and gave the stock a “buy” rating in a report on Tuesday, January 27th. Finally, Berenberg Bank reissued a “buy” rating and set a GBX 210 price target on shares of Mitie Group in a research report on Tuesday, January 27th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of GBX 186.20.

Mitie Group Trading Down 0.2%

The company has a 50 day simple moving average of GBX 173.32 and a 200 day simple moving average of GBX 161.56. The company has a market capitalization of £2.16 billion, a PE ratio of 23.37, a price-to-earnings-growth ratio of 10.10 and a beta of 0.91. The company has a debt-to-equity ratio of 120.44, a quick ratio of 0.83 and a current ratio of 0.94.

Insider Activity at Mitie Group

In other news, insider Mary Reilly acquired 1,518 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were bought at an average price of GBX 167 per share, for a total transaction of £2,535.06. Also, insider Salma Shah bought 1,994 shares of the stock in a transaction on Friday, January 2nd. The shares were acquired at an average cost of GBX 167 per share, for a total transaction of £3,329.98. Insiders have purchased 3,596 shares of company stock valued at $601,540 over the last quarter. 1.82% 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.