Mears Group (LON:MER) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

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 368.32 and traded as high as GBX 401. Mears Group shares last traded at GBX 394, with a volume of 411,097 shares.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 520 price target on shares of Mears Group in a research note on Friday, May 15th. Berenberg Bank reissued a “buy” rating and set a GBX 565 price objective on shares of Mears Group in a research report on Thursday, March 26th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Mears Group presently has a consensus rating of “Buy” and an average target price of GBX 506.

Mears Group Price Performance

The company has a 50 day simple moving average of GBX 395.01 and a 200-day simple moving average of GBX 368.32. The stock has a market cap of £317.62 million, a price-to-earnings ratio of 7.32, a P/E/G ratio of 0.68 and a beta of 0.48. The company has a current ratio of 0.79, a quick ratio of 0.92 and a debt-to-equity ratio of 157.98.

Mears Group (LON:MER) last issued its quarterly 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%. Research analysts expect that Mears Group plc will post 32.5150732 EPS for the current year.

Mears Group announced that its Board of Directors has initiated a share buyback plan on Wednesday, April 1st that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, insider Lucas Critchley bought 9,217 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were purchased at an average price of GBX 416 per share, for a total transaction of £38,342.72. Also, insider Andrew C. M. Smith sold 108,303 shares of the company’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 value of £434,295.03. 1.76% of the stock is currently owned by company insiders.

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.