Mitie Group (LON:MTO) Stock Passes Above 200 Day Moving Average – Should You Sell?

Mitie Group plc (LON:MTO) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 130.62 ($1.74) and traded as high as GBX 138 ($1.84). Mitie Group shares last traded at GBX 136.20 ($1.82), with a volume of 2,705,974 shares trading hands.

Wall Street Analyst Weigh In

Separately, Berenberg Bank reiterated a “buy” rating and issued a GBX 165 ($2.20) price target on shares of Mitie Group in a report on Tuesday, July 22nd.

Mitie Group Stock Performance

The firm has a market cap of £1.72 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 10.10 and a beta of 1.41. The business has a 50 day simple moving average of GBX 144.02 and a two-hundred day simple moving average of GBX 130.62. The company has a quick ratio of 0.83, a current ratio of 0.90 and a debt-to-equity ratio of 85.41.

Mitie Group (LON:MTO) last posted its quarterly earnings results on Thursday, June 5th. The company reported GBX 12.70 ($0.17) EPS for the quarter. Mitie Group had a net margin of 2.52% and a return on equity of 28.24%. As a group, equities research analysts forecast that Mitie Group plc will post 10.9360519 earnings per share for the current fiscal year.

Mitie Group declared that its Board of Directors has approved a share buyback program on Wednesday, April 16th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Mitie Group

In related news, insider Derek Mapp purchased 7,235 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The stock was purchased at an average price of GBX 141 ($1.88) per share, with a total value of £10,201.35 ($13,623.60). Also, insider Mary Reilly purchased 1,796 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was purchased at an average price of GBX 141 ($1.88) per share, with a total value of £2,532.36 ($3,381.89). Insiders have acquired 155,703 shares of company stock valued at $21,379,029 over the last 90 days. 5.65% of the stock is currently owned by insiders.

About Mitie Group

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.