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 mid-day trading on Thursday . The company traded as high as GBX 177.20 and last traded at GBX 176.60, with a volume of 5090492 shares traded. The stock had previously closed at GBX 174.40.

Analyst Upgrades and Downgrades

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

Mitie Group Stock Up 2.5%

The company has a debt-to-equity ratio of 85.41, a current ratio of 0.90 and a quick ratio of 0.83. The stock has a market cap of £2.27 billion, a price-to-earnings ratio of 24.60, a P/E/G ratio of 10.10 and a beta of 1.41. The business has a fifty day moving average of GBX 168.53 and a 200 day moving average of GBX 155.96.

Mitie Group (LON:MTO) last released 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%. On average, equities analysts predict that Mitie Group plc will post 10.9360519 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Mary Reilly acquired 1,518 shares of Mitie Group stock in a transaction dated Friday, January 2nd. The stock was acquired at an average cost of GBX 167 per share, for a total transaction of £2,535.06. Also, insider Christopher Rogers bought 50,000 shares of the stock in a transaction that occurred on Thursday, November 20th. The stock was purchased at an average price of GBX 115 per share, for a total transaction of £57,500. Insiders have bought a total of 248,603 shares of company stock valued at $36,381,610 in the last quarter. Company 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.