Mears Group (LON:MER) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Mears Group plc (LON:MER) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 356.81 and traded as high as GBX 361.59. Mears Group shares last traded at GBX 358, with a volume of 109,130 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MER shares. Peel Hunt restated a “buy” rating and issued a GBX 440 target price on shares of Mears Group in a research note on Monday, December 8th. Panmure Gordon reissued a “buy” rating and issued a GBX 499 price target on shares of Mears Group in a report on Monday, December 8th. Finally, Berenberg Bank started coverage on shares of Mears Group in a research note on Tuesday, October 28th. They set a “buy” rating and a GBX 550 price objective for the company. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of GBX 499.75.

Mears Group Trading Down 1.5%

The company has a debt-to-equity ratio of 139.90, a current ratio of 0.87 and a quick ratio of 0.92. The stock has a 50 day moving average of GBX 359.84 and a 200 day moving average of GBX 356.52. The firm has a market cap of £295.02 million, a P/E ratio of 6.70, a PEG ratio of 0.68 and a beta of 1.26.

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.