Mears Group (LON:MER) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Shares of Mears Group plc (LON:MER) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 361.64 and traded as high as GBX 417.75. Mears Group shares last traded at GBX 417, with a volume of 116,280 shares traded.

Analysts Set New Price Targets

Several analysts recently commented on the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 520 price target on shares of Mears Group in a research report on Friday, May 15th. Berenberg Bank reissued a “buy” rating and set a GBX 565 target price on shares of Mears Group in a research note on Thursday, March 26th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Mears Group currently has a consensus rating of “Buy” and a consensus target price of GBX 506.

Mears Group Stock Up 1.2%

The firm has a 50 day simple moving average of GBX 369.07 and a two-hundred day simple moving average of GBX 361.64. The company has a market capitalization of £341.61 million, a PE ratio of 7.74, a P/E/G ratio of 0.68 and a beta of 0.46. The company has a current ratio of 0.79, a quick ratio of 0.92 and a debt-to-equity ratio of 157.98.

Mears Group (LON:MER) last announced its earnings results on Thursday, March 26th. The company reported GBX 55.70 earnings per share for the quarter. Mears Group had a return on equity of 23.94% and a net margin of 4.07%. Research analysts expect that Mears Group plc will post 32.5150732 EPS for the current year.

Mears Group declared that its Board of Directors has initiated a stock repurchase program on Wednesday, April 1st that permits the company to buyback 0 shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Mears Group

In related news, insider Andrew C. M. Smith sold 108,303 shares of Mears Group stock in a transaction on Friday, May 8th. The stock was sold at an average price of GBX 401, for a total transaction of £434,295.03. Also, insider Lucas Critchley sold 60,984 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of GBX 401, for a total value of £244,545.84. Insiders own 1.55% of the company’s stock.

About Mears Group

Mears Group plc, together with its subsidiaries, provides various outsourced services to the public and private sectors in the United Kingdom. The company offers rapid-response and planned maintenance services to local authorities; gas and repair services; and maintenance and repairs, capital works, energy investment, and regeneration solutions for public buildings, as well as grounds maintenance services. It provides housing management services, which include supply of affordable homes to public and private sectors; emergency and temporary accommodation services; affordable housing/social housing management; housing with care services; private rented sector; stock acquisition; mears housing solutions; and housing services to central government departments.