Mitie Group (LON:MTO) Shares Cross Above 200 Day Moving Average – Should You Sell?

Mitie Group plc (LON:MTO)’s share price passed 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 changing hands.

Wall Street Analyst Weigh In

Separately, Berenberg Bank assumed coverage on Mitie Group in a report on Tuesday, January 28th. They issued a “buy” rating and a GBX 160 ($2.02) price target for the company.

Mitie Group Price Performance

The stock has a market capitalization of £1.50 billion, a P/E ratio of 12.36, a PEG ratio of 10.10 and a beta of 1.41. The company has a current ratio of 0.90, a quick ratio of 0.83 and a debt-to-equity ratio of 85.41. The company has a fifty day simple moving average of GBX 113.60 and a two-hundred day simple moving average of GBX 115.85.

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

Insiders Place Their Bets

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