Mitie Group (LON:MTO) Price Target Raised to GBX 170

Mitie Group (LON:MTO) had its price target lifted by Deutsche Bank Aktiengesellschaft from GBX 165 ($2.24) to GBX 170 ($2.31) in a report released on Monday, MarketBeat reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

Separately, Berenberg Bank upped their price objective on shares of Mitie Group from GBX 165 ($2.24) to GBX 175 ($2.38) and gave the company a “buy” rating in a report on Monday, August 4th.

Mitie Group Price Performance

Shares of MTO stock opened at GBX 147 ($2.00) on Monday. Mitie Group has a 1-year low of GBX 101 ($1.37) and a 1-year high of GBX 160 ($2.17). The stock’s 50-day moving average is GBX 141.21 and its 200 day moving average is GBX 132.84. The company has a market cap of £1.85 billion, a P/E ratio of 15.28, a PEG ratio of 10.10 and a beta of 1.41. The company has a debt-to-equity ratio of 85.41, a current ratio of 0.90 and a quick ratio of 0.83.

Mitie Group (LON:MTO) last issued its quarterly earnings results on Thursday, June 5th. The company reported GBX 12.70 ($0.17) earnings per share for the quarter. Mitie Group had a return on equity of 28.24% and a net margin of 2.52%. Research analysts predict that Mitie Group will post 10.9360519 earnings per share for the current fiscal year.

Mitie Group declared that its board has initiated a stock buyback plan on Wednesday, April 16th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Mitie Group

In other news, insider Derek Mapp acquired 7,235 shares of Mitie Group stock in a transaction dated Tuesday, July 1st. The stock was purchased at an average cost of GBX 141 ($1.91) per share, for a total transaction of £10,201.35 ($13,853.00). Also, insider Christopher Rogers acquired 144,000 shares of Mitie Group stock in a transaction dated Friday, June 6th. The stock was purchased at an average price of GBX 137 ($1.86) per share, with a total value of £197,280 ($267,897.88). In the last three months, insiders have bought 155,602 shares of company stock worth $21,363,980. 5.65% of the stock is owned by insiders.

Mitie Group Company Profile

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.