Mears Group (LON:MER) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Mears Group plc (LON:MER)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 379.08 and traded as high as GBX 438.50. Mears Group shares last traded at GBX 434.50, with a volume of 81,642 shares trading hands.

Analyst Ratings Changes

Separately, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 520 target price on shares of Mears Group in a report on Wednesday, July 1st. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of GBX 506.

Mears Group Price Performance

The company has a market cap of £345.81 million, a price-to-earnings ratio of 8.07, a PEG ratio of 0.68 and a beta of 0.48. The company has a quick ratio of 0.92, a current ratio of 0.79 and a debt-to-equity ratio of 157.98. The company’s fifty day moving average price is GBX 414.72 and its two-hundred day moving average price is GBX 379.08.

Mears Group announced that its Board of Directors has approved a share repurchase program on Wednesday, April 1st that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Mears Group news, insider Lucas Critchley sold 60,984 shares of the stock in a transaction dated 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 stock in a transaction dated Friday, May 8th. The stock was sold at an average price of GBX 401, for a total value of £434,295.03. 1.79% of the stock is currently owned by corporate 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.