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

Mitie Group plc (LON:MTO)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as GBX 173.80 and last traded at GBX 173.20, with a volume of 4238367 shares. The stock had previously closed at GBX 171.

Analysts Set New Price Targets

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

Mitie Group Stock Up 1.5%

The company has a quick ratio of 0.83, a current ratio of 0.90 and a debt-to-equity ratio of 85.41. The business has a fifty day simple moving average of GBX 166.10 and a two-hundred day simple moving average of GBX 154.21. The company has a market capitalization of £2.21 billion, a price-to-earnings ratio of 23.78, a P/E/G ratio of 10.10 and a beta of 1.41.

Mitie Group (LON:MTO) last announced its quarterly earnings results on Thursday, November 20th. The company reported GBX 5.70 EPS for the quarter. Mitie Group had a return on equity of 28.24% and a net margin of 2.52%. Equities analysts expect that Mitie Group plc will post 10.9360519 EPS for the current year.

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

Insider Activity

In other news, insider Christopher Rogers bought 50,000 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The stock was acquired at an average price of GBX 115 per share, for a total transaction of £57,500. Also, insider Salma Shah purchased 1,994 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were purchased at an average cost of GBX 167 per share, with a total value of £3,329.98. Insiders acquired a total of 248,603 shares of company stock worth $36,381,610 in the last quarter. 1.81% of the stock is owned by company 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.