Mitie Group (LON:MTO) Earns Buy Rating from Analysts at Berenberg Bank

Berenberg Bank initiated coverage on shares of Mitie Group (LON:MTO) in a report issued on Tuesday,Digital Look reports. The firm set a “buy” rating and a GBX 160 ($1.99) price target on the stock. Berenberg Bank’s target price suggests a potential upside of 36.52% from the stock’s previous close.

Mitie Group Price Performance

LON:MTO traded up GBX 1.20 ($0.01) during trading hours on Tuesday, reaching GBX 117.20 ($1.46). The stock had a trading volume of 946,744 shares, compared to its average volume of 2,709,260. The stock has a market capitalization of £1.45 billion, a PE ratio of 1,302.22, a PEG ratio of 10.10 and a beta of 1.41. Mitie Group has a 52 week low of GBX 100 ($1.24) and a 52 week high of GBX 127 ($1.58). The company has a 50 day moving average price of GBX 110.35 and a two-hundred day moving average price of GBX 116.13. The company has a debt-to-equity ratio of 67.87, a quick ratio of 0.83 and a current ratio of 0.93.

Mitie Group (LON:MTO) last released its quarterly earnings data on Thursday, November 21st. The company reported GBX 5.40 ($0.07) EPS for the quarter. Mitie Group had a net margin of 2.84% and a return on equity of 29.24%. As a group, sell-side analysts anticipate that Mitie Group will post 10.9360519 earnings per share for the current fiscal year.

Insider Transactions at Mitie Group

In other Mitie Group news, insider Derek Mapp acquired 8,802 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was bought at an average price of GBX 111 ($1.38) per share, for a total transaction of £9,770.22 ($12,156.55). Also, insider Phillip Bentley bought 200,000 shares of the stock in a transaction dated Thursday, November 21st. The shares were bought at an average cost of GBX 109 ($1.36) per share, with a total value of £218,000 ($271,245.49). In the last quarter, insiders bought 209,076 shares of company stock worth $22,807,024. 5.65% of the stock is currently owned by 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.