Mitie Group (LON:MTO) Earns “Buy” Rating from Peel Hunt

Mitie Group (LON:MTO)‘s stock had its “buy” rating restated by equities research analysts at Peel Hunt in a research report issued on Thursday,London Stock Exchange reports. They presently have a GBX 191 price target on the stock. Peel Hunt’s price objective points to a potential upside of 24.67% from the company’s previous close.

Several other equities research analysts have also weighed in on the company. Jefferies Financial Group restated a “hold” rating and set a GBX 145 price target on shares of Mitie Group in a research report on Thursday, September 11th. Berenberg Bank lifted their price objective on Mitie Group from GBX 185 to GBX 210 and gave the company a “buy” rating in a research note on Tuesday, October 28th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Mitie Group from GBX 165 to GBX 170 and gave the company a “buy” rating in a report on Monday, August 11th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Mitie Group presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 179.

Mitie Group Trading Down 2.0%

Shares of MTO traded down GBX 3.20 during trading hours on Thursday, hitting GBX 153.20. The company had a trading volume of 9,800,190 shares, compared to its average volume of 5,271,060. Mitie Group has a 52-week low of GBX 101 and a 52-week high of GBX 168. The company has a quick ratio of 0.83, a current ratio of 0.90 and a debt-to-equity ratio of 85.41. The stock’s 50 day moving average price is GBX 150.97 and its 200 day moving average price is GBX 146.85. The firm has a market cap of £1.97 billion, a P/E ratio of 20.16, a P/E/G ratio of 10.10 and a beta of 1.41.

Mitie Group (LON:MTO) last issued its quarterly earnings data on Thursday, November 20th. The company reported GBX 5.70 EPS for the quarter. Mitie Group had a net margin of 2.52% and a return on equity of 28.24%. On average, research analysts predict that Mitie Group will post 10.9360519 EPS for the current year.

Mitie Group declared that its Board of Directors has approved a share buyback program on Tuesday, October 14th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other news, insider Salma Shah acquired 2,423 shares of Mitie Group stock in a transaction dated Wednesday, October 1st. The stock was purchased at an average cost of GBX 138 per share, with a total value of £3,343.74. Also, insider Phillip Bentley sold 2,000,032 shares of the firm’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of GBX 138, for a total transaction of £2,760,044.16. Insiders have purchased a total of 4,478 shares of company stock valued at $618,788 in the last ninety days. Corporate insiders own 1.77% of the company’s stock.

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.