Mitie Group (LON:MTO) Shares Pass Above Two Hundred Day Moving Average – Should You Sell?

Mitie Group plc (LON:MTO) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 170.86 and traded as high as GBX 179.40. Mitie Group shares last traded at GBX 178.60, with a volume of 3,694,561 shares.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MTO. Royal Bank Of Canada boosted their price objective on Mitie Group from GBX 195 to GBX 205 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Berenberg Bank reiterated a “buy” rating and set a GBX 210 price objective on shares of Mitie Group in a research report on Friday, April 17th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 188.20.

Mitie Group Trading Up 0.7%

The business has a 50 day simple moving average of GBX 175 and a 200-day simple moving average of GBX 170.86. The company has a debt-to-equity ratio of 120.44, a quick ratio of 0.83 and a current ratio of 0.94. The stock has a market capitalization of £2.25 billion, a P/E ratio of 24.47, a price-to-earnings-growth ratio of 10.10 and a beta of 0.87.

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.