Mears Group (LON:MER) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Mears Group plc (LON:MER)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 366.15 and traded as high as GBX 404. Mears Group shares last traded at GBX 404, with a volume of 210,470 shares traded.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on MER shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 520 price target on shares of Mears Group in a report on Friday, May 15th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 565 price target on shares of Mears Group in a report on Thursday, March 26th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of GBX 506.

Mears Group Trading Up 2.5%

The stock has a market cap of £338.73 million, a P/E ratio of 7.80, a PEG ratio of 0.68 and a beta of 0.48. The firm’s fifty day moving average price is GBX 389.52 and its two-hundred day moving average price is GBX 366.90. The company has a debt-to-equity ratio of 157.98, a current ratio of 0.79 and a quick ratio of 0.92.

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

Mears Group declared that its board has approved a share buyback plan on Wednesday, April 1st that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Andrew C. M. Smith sold 108,303 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of GBX 401, for a total value of £434,295.03. Also, insider Lucas Critchley sold 60,984 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of GBX 401, for a total value of £244,545.84. 1.76% of the stock is owned by corporate insiders.

Mears Group Company Profile

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.