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

Analysts at Berenberg Bank started coverage on shares of Mitie Group (LON:MTO) in a report issued on Tuesday, Marketbeat.com reports. The brokerage set a “buy” rating and a GBX 160 ($1.99) price target on the stock. Berenberg Bank’s target price would indicate a potential upside of 37.46% from the stock’s previous close.

Mitie Group Trading Up 0.3 %

Shares of MTO opened at GBX 116.40 ($1.45) on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.83 and a debt-to-equity ratio of 67.87. Mitie Group has a 1-year low of GBX 100 ($1.25) and a 1-year high of GBX 127 ($1.58). The firm’s 50-day moving average price is GBX 110.46 and its 200-day moving average price is GBX 116.13. The firm has a market capitalization of £1.44 billion, a price-to-earnings ratio of 1,293.33, a PEG ratio of 10.10 and a beta of 1.41.

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

Insider Buying and Selling at Mitie Group

In related news, insider Phillip Bentley purchased 200,000 shares of Mitie Group stock in a transaction dated Thursday, November 21st. The stock was purchased at an average cost of GBX 109 ($1.36) per share, for a total transaction of £218,000 ($271,414.34). Also, insider Derek Mapp acquired 8,802 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were bought at an average price of GBX 111 ($1.38) per share, for a total transaction of £9,770.22 ($12,164.12). Over the last 90 days, insiders purchased 209,076 shares of company stock worth $22,807,024. 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.