Mitie Group (LON:MTO) Sets New 52-Week High – Here’s Why

Shares of Mitie Group plc (LON:MTO) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as GBX 177.20 and last traded at GBX 176.60, with a volume of 5090492 shares. The stock had previously closed at GBX 174.40.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on MTO shares. Berenberg Bank restated a “buy” rating and issued a GBX 210 price target on shares of Mitie Group in a research note on Tuesday, January 27th. Peel Hunt restated a “buy” rating and set a GBX 191 price target on shares of Mitie Group in a report on Thursday, November 20th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a GBX 195 price target on shares of Mitie Group in a research report on Monday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Mitie Group from GBX 170 to GBX 190 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of GBX 186.20.

Mitie Group Trading Up 0.4%

The stock has a 50-day moving average price of GBX 167.91 and a two-hundred day moving average price of GBX 155.53. The stock has a market capitalization of £2.22 billion, a PE ratio of 23.99, a PEG ratio of 10.10 and a beta of 1.41. The company has a debt-to-equity ratio of 85.41, a quick ratio of 0.83 and a current ratio of 0.90.

Mitie Group (LON:MTO) last released its quarterly earnings data on Thursday, November 20th. The company reported GBX 5.70 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 analysts forecast that Mitie Group plc will post 10.9360519 earnings per share for the current year.

Insider Buying and Selling at Mitie Group

In other news, insider Mary Reilly purchased 1,518 shares of the stock in a transaction dated Friday, January 2nd. The shares were acquired at an average cost of GBX 167 per share, for a total transaction of £2,535.06. Also, insider Salma Shah purchased 1,994 shares of Mitie Group stock in a transaction dated Friday, January 2nd. The shares were acquired at an average cost of GBX 167 per share, for a total transaction of £3,329.98. In the last three months, insiders purchased 248,603 shares of company stock valued at $36,381,610. 1.82% 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.