Mitie Group (LON:MTO) Reaches New 12-Month High – Should You Buy?

Mitie Group plc (LON:MTO) reached a new 52-week high during trading on Wednesday . The company traded as high as GBX 170.80 and last traded at GBX 170.80, with a volume of 1680342 shares changing hands. The stock had previously closed at GBX 167.60.

Wall Street Analysts Forecast Growth

MTO has been the subject of a number of recent analyst reports. Berenberg Bank upped their price target on Mitie Group from GBX 185 to GBX 210 and gave the company a “buy” rating in a research note on Tuesday, October 28th. Jefferies Financial Group reissued a “hold” rating and set a GBX 145 price target on shares of Mitie Group in a research report on Thursday, September 11th. Peel Hunt restated a “buy” rating and issued a GBX 191 price objective on shares of Mitie Group in a research report on Thursday, November 20th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a GBX 195 target price on shares of Mitie Group in a report on Thursday, December 4th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Mitie Group has a consensus rating of “Moderate Buy” and a consensus price target of GBX 182.20.

Mitie Group Stock Down 0.6%

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 firm has a fifty day moving average of GBX 163.28 and a 200-day moving average of GBX 150.39. The firm has a market cap of £2.16 billion, a P/E ratio of 23.26, a price-to-earnings-growth ratio of 10.10 and a beta of 1.41.

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

Mitie Group announced that its Board of Directors has initiated a share buyback plan on Tuesday, October 14th that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the company to purchase 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.

Insiders Place Their Bets

In other Mitie Group news, insider Salma Shah acquired 1,994 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were purchased at an average price of GBX 167 per share, for a total transaction of £3,329.98. Also, insider Mary Reilly purchased 1,518 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was acquired at an average price of GBX 167 per share, for a total transaction of £2,535.06. Insiders bought 248,711 shares of company stock worth $36,396,514 in the last three months. 1.81% of the stock is owned by corporate insiders.

Mitie Group Company Profile

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.