Mitie Group (LON:MTO) Reaches New 1-Year High – Should You Buy?

Mitie Group plc (LON:MTO) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as GBX 168.20 and last traded at GBX 168, with a volume of 1520269 shares changing hands. The stock had previously closed at GBX 166.

Analyst Ratings Changes

A number of equities analysts have commented on MTO shares. Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 145 target price on shares of Mitie Group in a research note on Thursday, September 11th. Berenberg Bank lifted their price target on shares of Mitie Group from GBX 185 to GBX 210 and gave the company a “buy” rating in a research report on Tuesday, October 28th. Royal Bank Of Canada reiterated an “outperform” rating and issued a GBX 195 price objective on shares of Mitie Group in a report on Thursday, December 4th. Finally, Peel Hunt reissued a “buy” rating and set a GBX 191 target price on shares of Mitie Group in a research note on Thursday, November 20th. Four investment 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 presently has a consensus rating of “Moderate Buy” and an average price target of GBX 182.20.

Mitie Group Price Performance

The company has a debt-to-equity ratio of 85.41, a quick ratio of 0.83 and a current ratio of 0.90. The stock’s 50-day moving average is GBX 158.91 and its two-hundred day moving average is GBX 147.80. The stock has a market cap of £2.14 billion, a PE ratio of 23.01, a PEG ratio of 10.10 and a beta of 1.41.

Mitie Group (LON:MTO) last announced 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%. On average, equities analysts predict 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 program on Tuesday, October 14th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Mitie Group

In other Mitie Group news, insider Christopher Rogers acquired 50,000 shares of the stock in a transaction dated Thursday, November 20th. The stock was acquired at an average price of GBX 115 per share, with a total value of £57,500. Also, insider Salma Shah bought 2,423 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were acquired at an average cost of GBX 138 per share, for a total transaction of £3,343.74. Insiders acquired a total of 249,466 shares of company stock worth $36,398,856 over the last ninety days. Company insiders own 1.81% of the company’s stock.

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.