Mitie Group (LON:MTO) Hits New 1-Year High – Here’s Why

Mitie Group plc (LON:MTO)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as GBX 181 and last traded at GBX 179.60, with a volume of 171798047 shares. The stock had previously closed at GBX 179.80.

Wall Street Analysts Forecast Growth

MTO has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Mitie Group from GBX 170 to GBX 190 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a GBX 195 target price on shares of Mitie Group in a report on Monday, February 2nd. Peel Hunt restated a “buy” rating and set a GBX 191 price objective on shares of Mitie Group in a report on Thursday, November 20th. Finally, Berenberg Bank reiterated a “buy” rating and issued a GBX 210 target price on shares of Mitie Group in a report on Tuesday, January 27th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Mitie Group currently has an average rating of “Moderate Buy” and a consensus target price of GBX 186.20.

Mitie Group Trading Up 1.1%

The business’s 50-day simple moving average is GBX 170.42 and its 200-day simple moving average is GBX 157.41. The company has a market cap of £2.32 billion, a PE ratio of 25.12, a P/E/G ratio of 10.10 and a beta of 1.41. The company has a current ratio of 0.90, a quick ratio of 0.83 and a debt-to-equity ratio of 85.41.

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

Insider Transactions at Mitie Group

In related news, insider Salma Shah bought 1,994 shares of Mitie Group stock in a transaction that occurred on Friday, January 2nd. The stock was purchased at an average cost of GBX 167 per share, for a total transaction of £3,329.98. Also, insider Mary Reilly purchased 1,518 shares of the company’s stock in a transaction dated Friday, January 2nd. The stock was purchased at an average cost of GBX 167 per share, for a total transaction of £2,535.06. Insiders acquired 3,687 shares of company stock valued at $616,646 in the last ninety days. Insiders own 1.82% 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.