Mitie Group (LON:MTO) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Shares of Mitie Group plc (LON:MTO) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 159.26 and traded as high as GBX 175.80. Mitie Group shares last traded at GBX 175.40, with a volume of 1,427,934 shares trading hands.

Wall Street Analysts Forecast Growth

MTO has been the subject of a number of analyst reports. Peel Hunt restated a “buy” rating and issued a GBX 191 price objective on shares of Mitie Group in a research note on Thursday, November 20th. Royal Bank Of Canada reiterated an “outperform” rating and issued a GBX 195 target price on shares of Mitie Group in a report on Monday, February 2nd. Deutsche Bank Aktiengesellschaft upped their price target on shares of Mitie Group from GBX 170 to GBX 190 and gave the company a “buy” rating in a report on Tuesday, January 27th. Finally, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 210 price target on shares of Mitie Group in a research report on Tuesday, January 27th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of GBX 186.20.

Mitie Group Trading Down 0.8%

The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 120.44. The firm has a market capitalization of £2.17 billion, a price-to-earnings ratio of 23.48, a P/E/G ratio of 10.10 and a beta of 0.92. The business has a 50-day moving average of GBX 172.39 and a two-hundred day moving average of GBX 159.53.

Insider Buying and Selling

In other news, insider Salma Shah acquired 1,994 shares of the stock in a transaction dated Friday, January 2nd. The shares were acquired at an average cost of GBX 167 per share, for a total transaction of £3,329.98. Also, insider Mary Reilly bought 1,518 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was purchased at an average price of GBX 167 per share, with a total value of £2,535.06. Over the last 90 days, insiders have bought 3,687 shares of company stock worth $616,646. 1.82% 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.