Mears Group (LON:MER) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Shares of Mears Group plc (LON:MER) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 353.74 and traded as high as GBX 383.50. Mears Group shares last traded at GBX 370, with a volume of 2,278,341 shares traded.

Wall Street Analyst Weigh In

MER has been the topic of a number of research analyst reports. Berenberg Bank increased their target price on Mears Group from GBX 550 to GBX 565 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Peel Hunt restated 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 reaffirmed a “buy” rating and issued a GBX 499 price objective on shares of Mears Group in a report on Monday, December 8th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Mears Group has an average rating of “Buy” and an average target price of GBX 503.50.

Mears Group Stock Up 0.5%

The firm’s 50-day moving average price is GBX 359.59 and its 200 day moving average price is GBX 353.74. The firm has a market cap of £306.15 million, a P/E ratio of 6.95, a price-to-earnings-growth ratio of 0.68 and a beta of 1.26. The company has a quick ratio of 0.92, a current ratio of 0.87 and a debt-to-equity ratio of 139.90.

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.