Mitie Group (LON:MTO - Free Report) had its price objective hoisted by Berenberg Bank from GBX 160 ($2.14) to GBX 165 ($2.21) in a research report report published on Wednesday morning, MarketBeat.com reports. They currently have a buy rating on the stock.
Mitie Group Price Performance
Shares of Mitie Group stock traded up GBX 1.60 ($0.02) during trading on Wednesday, reaching GBX 135 ($1.81). The company's stock had a trading volume of 7,845,453 shares, compared to its average volume of 4,458,098. The company has a quick ratio of 0.83, a current ratio of 0.90 and a debt-to-equity ratio of 85.41. The business has a 50 day moving average price of GBX 117.53 and a 200-day moving average price of GBX 114.77. Mitie Group has a 12-month low of GBX 101 ($1.35) and a 12-month high of GBX 137.40 ($1.84). The company has a market capitalization of £1.70 billion, a P/E ratio of 14.03, a price-to-earnings-growth ratio of 10.10 and a beta of 1.41.
Mitie Group announced that its board has initiated a share buyback plan on Wednesday, April 16th that permits the company to buyback 0 shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.
Insiders Place Their Bets
In other news, insider Derek Mapp bought 8,571 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was purchased at an average price of GBX 115 ($1.54) per share, for a total transaction of £9,856.65 ($13,189.68). 5.65% of the stock is currently owned by company insiders.
Mitie Group Company Profile
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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.
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