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

Shares of Mitie Group plc (LON:MTO) reached a new 52-week high during trading on Friday . The company traded as high as GBX 156.40 ($2.10) and last traded at GBX 155.45 ($2.09), with a volume of 1160580 shares changing hands. The stock had previously closed at GBX 155 ($2.08).

Analysts Set New Price Targets

Separately, Berenberg Bank upped their price objective on shares of Mitie Group from GBX 160 ($2.15) to GBX 165 ($2.21) and gave the company a “buy” rating in a research note on Wednesday, April 16th.

Mitie Group Stock Up 0.5%

The business’s 50-day moving average price is GBX 131.71 and its 200-day moving average price is GBX 119.43. 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 market capitalization of £1.97 billion, a PE ratio of 16.20, a price-to-earnings-growth ratio of 10.10 and a beta of 1.41.

Mitie Group announced that its board has initiated a share repurchase program on Wednesday, April 16th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Mitie Group

In other Mitie Group news, insider Derek Mapp acquired 8,571 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were purchased at an average price of GBX 115 ($1.54) per share, with a total value of £9,856.65 ($13,230.40). Insiders purchased 8,797 shares of company stock valued at $1,015,714 over the last three months. 5.65% 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.