Mitie Group (LON:MTO) Shares Pass Above 200-Day Moving Average – Here’s Why

Mitie Group plc (LON:MTO)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 169.33 and traded as high as GBX 174.90. Mitie Group shares last traded at GBX 173.04, with a volume of 5,908,393 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MTO shares. Deutsche Bank Aktiengesellschaft boosted their target price on Mitie Group from GBX 170 to GBX 190 and gave the company a “buy” rating in a report on Tuesday, January 27th. Royal Bank Of Canada boosted their target price on Mitie Group from GBX 195 to GBX 205 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Finally, Berenberg Bank reiterated a “buy” rating and set a GBX 210 target price on shares of Mitie Group in a research report on Friday, April 17th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of GBX 188.20.

Mitie Group Trading Up 0.5%

The firm has a market cap of £2.18 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 10.10 and a beta of 0.87. The company has a debt-to-equity ratio of 120.44, a quick ratio of 0.83 and a current ratio of 0.94. The business has a fifty day moving average of GBX 175.02 and a two-hundred day moving average of GBX 169.33.

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.