ME Group International (LON:MEGP) Reaches New 52-Week High - Here's What Happened

ME Group International plc (LON:MEGP - Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as GBX 235.50 ($3.03) and last traded at GBX 229.50 ($2.95), with a volume of 537018 shares. The stock had previously closed at GBX 227 ($2.92).

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MEGP shares. Berenberg Bank reaffirmed a "buy" rating and issued a GBX 200 ($2.57) target price on shares of ME Group International in a research note on Monday, July 15th. Canaccord Genuity Group reissued a "buy" rating and set a GBX 203 ($2.61) price target on shares of ME Group International in a research report on Tuesday, July 16th.

ME Group International Stock Performance

The firm's 50-day simple moving average is GBX 200.69 and its 200 day simple moving average is GBX 184.95. The stock has a market capitalization of £847.71 million, a P/E ratio of 1,607.14 and a beta of 1.20.

ME Group International Company Profile

ME Group International plc operates, sells, and services a range of instant-service equipment in the United Kingdom. The company operates through Asia Pacific, Continental Europe, and United Kingdom and Ireland segments. It operates coin-operated automatic photobooths for identification and fun purposes, as well as vending equipment, including digital photo kiosks, laundry machines, business service equipment, amusement machines, and children's rides.