Mitie Group (LON:MTO) Reaches New 12-Month High – Here’s What Happened

Mitie Group plc (LON:MTO)’s stock price hit a new 52-week high on Wednesday . The company traded as high as GBX 173.80 and last traded at GBX 173.20, with a volume of 4238367 shares changing hands. The stock had previously closed at GBX 171.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MTO. Berenberg Bank reiterated a “buy” rating and set a GBX 210 price target on shares of Mitie Group in a research report on Tuesday, January 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a GBX 195 price objective on shares of Mitie Group in a report on Monday. Deutsche Bank Aktiengesellschaft lifted their target price on Mitie Group from GBX 170 to GBX 190 and gave the company a “buy” rating in a research note on Tuesday, January 27th. Finally, Peel Hunt reaffirmed a “buy” rating and set a GBX 191 price target on shares of Mitie Group in a research note on Thursday, November 20th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of GBX 186.20.

Mitie Group Trading Up 1.5%

The company has a market capitalization of £2.21 billion, a P/E ratio of 23.78, a PEG ratio of 10.10 and a beta of 1.41. The business has a 50 day moving average price of GBX 166.10 and a 200 day moving average price of GBX 154.21. The company has a current ratio of 0.90, a quick ratio of 0.83 and a debt-to-equity ratio of 85.41.

Mitie Group (LON:MTO) last issued 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 net margin of 2.52% and a return on equity of 28.24%. Analysts anticipate that Mitie Group plc will post 10.9360519 EPS for the current year.

Mitie Group declared that its board has authorized a stock buyback program on Tuesday, October 14th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, insider Salma Shah bought 1,994 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were purchased at an average cost of GBX 167 per share, for a total transaction of £3,329.98. Also, insider Phillip Bentley bought 195,000 shares of Mitie Group stock in a transaction that occurred on Thursday, November 20th. The stock was bought at an average cost of GBX 154 per share, with a total value of £300,300. In the last three months, insiders purchased 248,603 shares of company stock worth $36,381,610. 1.81% of the stock is owned by company 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.