Berenberg Bank Reaffirms “Buy” Rating for Mitie Group (LON:MTO)

Mitie Group (LON:MTO)‘s stock had its “buy” rating reissued by investment analysts at Berenberg Bank in a note issued to investors on Tuesday, MarketBeat reports. They currently have a GBX 210 target price on the stock. Berenberg Bank’s target price indicates a potential upside of 24.26% from the company’s previous close.

MTO has been the subject of several other reports. Peel Hunt reaffirmed a “buy” rating and set a GBX 191 target price on shares of Mitie Group in a research note on Thursday, November 20th. Royal Bank Of Canada restated an “outperform” rating and issued a GBX 195 price target on shares of Mitie Group in a research report on Thursday, December 4th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Mitie Group has a consensus rating of “Moderate Buy” and an average target price of GBX 186.20.

Mitie Group Trading Down 1.3%

MTO stock traded down GBX 2.20 on Tuesday, reaching GBX 169. The company’s stock had a trading volume of 1,798,385 shares, compared to its average volume of 4,861,889. Mitie Group has a 12-month low of GBX 109.18 and a 12-month high of GBX 173.40. The business has a fifty day simple moving average of GBX 164.95 and a two-hundred day simple moving average of GBX 153.09. The company has a debt-to-equity ratio of 85.41, a quick ratio of 0.83 and a current ratio of 0.90. The firm has a market cap of £2.15 billion, a PE ratio of 23.15, a PEG ratio of 10.10 and a beta of 1.41.

Mitie Group (LON:MTO) last released its 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%. As a group, research analysts forecast that Mitie Group will post 10.9360519 EPS for the current year.

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

Insider Transactions at Mitie Group

In other Mitie Group news, insider Salma Shah bought 1,994 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were acquired at an average cost of GBX 167 per share, with a total value of £3,329.98. Also, insider Mary Reilly bought 1,518 shares of Mitie Group stock in a transaction on Friday, January 2nd. The shares were purchased at an average cost of GBX 167 per share, for a total transaction of £2,535.06. Insiders have bought a total of 248,603 shares of company stock valued at $36,381,610 over the last ninety days. Company insiders own 1.81% 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.