Mitie Group (LON:MTO) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Mitie Group plc (LON:MTO)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 170.25 and traded as high as GBX 178.40. Mitie Group shares last traded at GBX 176.60, with a volume of 67,632,078 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MTO. Deutsche Bank Aktiengesellschaft increased their price target on shares of Mitie Group from GBX 170 to GBX 190 and gave the company a “buy” rating in a report on Tuesday, January 27th. Royal Bank Of Canada raised their target price on shares of Mitie Group from GBX 195 to GBX 205 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Finally, Berenberg Bank reaffirmed a “buy” rating and set a GBX 210 target price on shares of Mitie Group in a report on Friday, April 17th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of GBX 188.20.

Mitie Group Trading Up 0.5%

The company has a market cap of £2.23 billion, a price-to-earnings ratio of 24.24, a price-to-earnings-growth ratio of 10.10 and a beta of 0.87. The business’s fifty day moving average price is GBX 174.49 and its 200 day moving average price is GBX 170.25. The company has a debt-to-equity ratio of 120.44, a current ratio of 0.94 and a quick ratio of 0.83.

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.