Mitie Group plc (LON:MTO - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as GBX 136.63 ($1.83) and last traded at GBX 135.60 ($1.81), with a volume of 835495 shares trading hands. The stock had previously closed at GBX 133.40 ($1.79).
Analyst Ratings Changes
Separately, Berenberg Bank lifted their price objective on Mitie Group from GBX 160 ($2.14) to GBX 165 ($2.21) and gave the stock a "buy" rating in a report on Wednesday, April 16th.
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Mitie Group Price Performance
The firm has a market cap of £1.70 billion, a P/E ratio of 14.00, a price-to-earnings-growth ratio of 10.10 and a beta of 1.41. The business has a 50-day simple moving average of GBX 117.53 and a 200 day simple moving average of GBX 114.77. The company has a debt-to-equity ratio of 85.41, a quick ratio of 0.83 and a current ratio of 0.90.
Mitie Group announced that its Board of Directors has authorized a stock buyback program on Wednesday, April 16th that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.
Insider Transactions at Mitie Group
In related news, insider Derek Mapp bought 8,571 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were purchased at an average cost of GBX 115 ($1.54) per share, with a total value of £9,856.65 ($13,189.68). Insiders own 5.65% of the company's stock.
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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