Mitie Group (LON:MTO) Reaches New 1-Year High After Analyst Upgrade

Mitie Group plc (LON:MTO - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday after Berenberg Bank raised their price target on the stock from GBX 160 to GBX 165. Berenberg Bank currently has a buy rating on the stock. Mitie Group traded as high as GBX 128 ($1.70) and last traded at GBX 127.80 ($1.70), with a volume of 4582953 shares changing hands. The stock had previously closed at GBX 122 ($1.62).

Insider Activity

In related news, insider Derek Mapp acquired 8,571 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were bought at an average price of GBX 115 ($1.53) per share, for a total transaction of £9,856.65 ($13,110.73). 5.65% of the stock is owned by corporate insiders.

Mitie Group Trading Up 1.8 %

The stock has a market cap of £1.68 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 10.10 and a beta of 1.41. The business's 50 day simple moving average is GBX 117.24 and its 200 day simple moving average is GBX 114.66. The company has a quick ratio of 0.83, a current ratio of 0.90 and a debt-to-equity ratio of 85.41.

Mitie Group announced that its board has initiated a stock repurchase plan on Wednesday, April 16th that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

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.