Mears Group plc (LON:MER – Get Free Report)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 375.94 and traded as high as GBX 446.13. Mears Group shares last traded at GBX 443, with a volume of 304,041 shares changing hands.
Analyst Upgrades and Downgrades
Several research analysts have commented on MER shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 520 price objective on shares of Mears Group in a research note on Wednesday, July 1st. Berenberg Bank reissued a “buy” rating and issued a GBX 565 target price on shares of Mears Group in a research note on Thursday, March 26th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of GBX 506.
Get Our Latest Stock Analysis on MER
Mears Group Stock Performance
Mears Group declared that its Board of Directors has approved a stock buyback plan on Wednesday, April 1st that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
Insider Transactions at Mears Group
In related news, insider Andrew C. M. Smith sold 108,303 shares of the stock in a transaction that occurred 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 stock was sold at an average price of GBX 401, for a total value of £244,545.84. Corporate insiders own 1.79% 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.
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