ME Group International (LON:MEGP) Stock Price Up 6.2% – What’s Next?

ME Group International plc (LON:MEGP) shot up 6.2% during mid-day trading on Thursday . The stock traded as high as GBX 135.64 and last traded at GBX 132.59. 1,796,611 shares changed hands during mid-day trading, a decline of 19% from the average session volume of 2,207,325 shares. The stock had previously closed at GBX 124.80.

Analyst Upgrades and Downgrades

Separately, Peel Hunt cut their price target on shares of ME Group International from GBX 235 to GBX 220 and set a “buy” rating on the stock in a report on Monday, November 10th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, ME Group International currently has a consensus rating of “Buy” and a consensus target price of GBX 262.50.

ME Group International Trading Up 6.2%

The firm has a market cap of £500.83 million, a price-to-earnings ratio of 8.82 and a beta of 1.20. The business’s 50-day simple moving average is GBX 142.86 and its two-hundred day simple moving average is GBX 168.31.

ME Group International Company Profile

ME Group International plc (LSE: MEGP) is an international market leader in automated self-service equipment aimed at the consumer market, with over 48,000 vending units currently in operation.

The Group operates, sells and services a wide range of instant-service vending equipment across 16 countries in its key regions of Continental Europe, the UK & Republic of Ireland and Asia Pacific. The Group’s services include:

Core activities:
• Photo.ME – Photobooths and integrated biometric identification solutions
• Wash.ME – Unattended laundry services and launderettes

Ancillary activities:
• Print.ME – High-quality digital printing kiosks
• Other vending – Primarily foodservice vending equipment (Feed.ME), Children’s rides (Amuse.ME), Photocopier services (Copy.ME)

The Group has a proven track record of innovation and diversification of its products and services, enabling it to respond to the evolving needs of its customers and consumers.

The Group benefits from well-established partnerships and long-term contracts with major site owners in attractive, high-footfall locations, enabling it to offer multiple products and services onsite.