Mitie Group (LON:MTO) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Mitie Group plc (LON:MTO) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 115.85 ($1.46) and traded as high as GBX 120 ($1.52). Mitie Group shares last traded at GBX 118.93 ($1.50), with a volume of 4,359,989 shares.

Analyst Ratings Changes

Separately, Berenberg Bank began coverage on shares of Mitie Group in a research note on Tuesday, January 28th. They set a “buy” rating and a GBX 160 ($2.02) price target on the stock.

Mitie Group Price Performance

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’s 50 day simple moving average is GBX 113.60 and its two-hundred day simple moving average is GBX 115.85. The stock has a market cap of £1.50 billion, a price-to-earnings ratio of 12.36, a P/E/G ratio of 10.10 and a beta of 1.41.

Mitie Group (LON:MTO) last issued its quarterly earnings data on Thursday, November 21st. The company reported GBX 5.40 ($0.07) earnings per share (EPS) for the quarter. Mitie Group had a return on equity of 28.24% and a net margin of 2.52%. On average, analysts forecast that Mitie Group plc will post 10.9360519 earnings per share for the current fiscal year.

Insider Buying and Selling at Mitie Group

In related news, insider Derek Mapp acquired 8,802 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was bought at an average cost of GBX 111 ($1.40) per share, with a total value of £9,770.22 ($12,343.93). Over the last three months, insiders purchased 9,076 shares of company stock valued at $1,007,024. 5.65% of the stock is currently owned by company insiders.

About Mitie Group

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.