Mears Group (LON:MER) Shares Cross Above 200-Day Moving Average – Time to Sell?

Mears Group plc (LON:MER) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 375.94 and traded as high as GBX 446.13. Mears Group shares last traded at GBX 443, with a volume of 304,041 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have commented on MER shares. Berenberg Bank reiterated a “buy” rating and set a GBX 565 target price on shares of Mears Group in a research report on Thursday, March 26th. Deutsche Bank Aktiengesellschaft reissued 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 data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of GBX 506.

Mears Group Trading Up 2.4%

The company has a market cap of £352.58 million, a price-to-earnings ratio of 8.23, a PEG ratio of 0.68 and a beta of 0.48. The company has a debt-to-equity ratio of 157.98, a current ratio of 0.79 and a quick ratio of 0.92. The business’s 50-day simple moving average is GBX 410.55 and its 200-day simple moving average is GBX 375.94.

Mears Group declared that its Board of Directors has authorized a share buyback program on Wednesday, April 1st that allows the company to buyback 0 shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Andrew C. M. Smith sold 108,303 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of GBX 401, for a total value of £434,295.03. Also, insider Lucas Critchley acquired 9,217 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were bought at an average cost of GBX 416 per share, for a total transaction of £38,342.72. 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.