Mears Group (LON:MER) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Shares of Mears Group plc (LON:MER) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 348.60 and traded as high as GBX 355. Mears Group shares last traded at GBX 353, with a volume of 972,366 shares trading hands.

Wall Street Analyst Weigh In

MER has been the topic of several recent research reports. Berenberg Bank increased their target price on shares of Mears Group from GBX 550 to GBX 565 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Peel Hunt reiterated a “buy” rating and set a GBX 440 price objective on shares of Mears Group in a research note on Monday, December 8th. Finally, Panmure Gordon reissued a “buy” rating and set a GBX 499 price objective on shares of Mears Group in a report on Monday, December 8th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of GBX 503.50.

Mears Group Price Performance

The firm has a market capitalization of £293.78 million, a P/E ratio of 6.67, a P/E/G ratio of 0.68 and a beta of 0.35. The stock’s fifty day simple moving average is GBX 356.03 and its 200 day simple moving average is GBX 348.57. The company has a debt-to-equity ratio of 162.62, a current ratio of 0.77 and a quick ratio of 0.92.

About Mears Group

Mears Group plc, together with its subsidiaries, provides various outsourced services to the public and private sectors in the United Kingdom. The company offers rapid-response and planned maintenance services to local authorities; gas and repair services; and maintenance and repairs, capital works, energy investment, and regeneration solutions for public buildings, as well as grounds maintenance services. It provides housing management services, which include supply of affordable homes to public and private sectors; emergency and temporary accommodation services; affordable housing/social housing management; housing with care services; private rented sector; stock acquisition; mears housing solutions; and housing services to central government departments.