Mears Group (LON:MER) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Mears Group plc (LON:MER)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 366.15 and traded as high as GBX 404. Mears Group shares last traded at GBX 404, with a volume of 210,470 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MER shares. Berenberg Bank reiterated a “buy” rating and issued a GBX 565 price objective on shares of Mears Group in a research report on Thursday, March 26th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 520 price objective on shares of Mears Group in a research note on Friday, May 15th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of GBX 506.

Mears Group Price Performance

The firm has a 50 day moving average of GBX 386.11 and a two-hundred day moving average of GBX 366.15. The firm has a market capitalization of £325.68 million, a price-to-earnings ratio of 7.50, a price-to-earnings-growth ratio of 0.68 and a beta of 0.46. The company has a quick ratio of 0.92, a current ratio of 0.79 and a debt-to-equity ratio of 157.98.

Mears Group (LON:MER) last posted its earnings results on Thursday, March 26th. The company reported GBX 55.70 EPS for the quarter. Mears Group had a return on equity of 23.94% and a net margin of 4.07%. As a group, sell-side analysts anticipate that Mears Group plc will post 32.5150732 EPS for the current fiscal year.

Mears Group declared that its board has approved a stock repurchase plan on Wednesday, April 1st that permits the company to repurchase 0 shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Mears Group

In related news, insider Lucas Critchley sold 60,984 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of GBX 401, for a total transaction of £244,545.84. Also, insider Andrew C. M. Smith sold 108,303 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of GBX 401, for a total value of £434,295.03. 1.76% of the stock is owned by company insiders.

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.