Mitie Group (LON:MTO) Sets New 12-Month High – Should You Buy?

Mitie Group plc (LON:MTO)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as GBX 171.80 and last traded at GBX 171.26, with a volume of 805664 shares trading hands. The stock had previously closed at GBX 168.80.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Peel Hunt restated a “buy” rating and issued a GBX 191 target price on shares of Mitie Group in a research note on Thursday, November 20th. Berenberg Bank lifted their price target on Mitie Group from GBX 185 to GBX 210 and gave the stock a “buy” rating in a report on Tuesday, October 28th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a GBX 195 price objective on shares of Mitie Group in a research report on Thursday, December 4th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of GBX 182.20.

Mitie Group Trading Up 1.1%

The firm has a 50 day moving average of GBX 164.51 and a 200 day moving average of GBX 152.63. The firm has a market cap of £2.17 billion, a PE ratio of 23.37, a P/E/G ratio of 10.10 and a beta of 1.41. 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 issued its earnings results on Thursday, November 20th. The company reported GBX 5.70 earnings per share (EPS) for the quarter. Mitie Group had a return on equity of 28.24% and a net margin of 2.52%. Equities analysts anticipate that Mitie Group plc will post 10.9360519 earnings per share for the current year.

Mitie Group announced that its Board of Directors has initiated a share buyback plan on Tuesday, October 14th that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Mitie Group

In other Mitie Group news, insider Phillip Bentley bought 195,000 shares of the business’s stock in a transaction on Thursday, November 20th. The stock was purchased at an average price of GBX 154 per share, for a total transaction of £300,300. Also, insider Mary Reilly bought 1,518 shares of Mitie Group stock in a transaction dated Friday, January 2nd. The stock was acquired at an average price of GBX 167 per share, with a total value of £2,535.06. Insiders acquired 248,603 shares of company stock valued at $36,381,610 in the last three months. 1.81% of the stock is owned by company 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.