Could Mitie Group PLC See a Reversal After Breaking Its 52-Week Low?

 Could Mitie Group PLC See a Reversal After Breaking Its 52 Week Low?

The stock of Mitie Group PLC (LON:MTO) hit a new 52-week low and has GBX 188.64 target or 7.00% below today’s GBX 202.84 share price. The 5 months bearish chart indicates high risk for the GBX 728.29M company. The 1-year low was reported on Nov, 22 by Barchart.com. If the GBX 188.64 price target is reached, the company will be worth GBX 50.98M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. The stock increased 6.76% or GBX 12.84 on November 22, hitting GBX 202.84. About 5.51 million shares traded hands or 148.20% up from the average. Mitie Group PLC (LON:MTO) has declined 29.60% since April 25, 2016 and is downtrending. It has underperformed by 34.16% the S&P500.

Mitie Group PLC (LON:MTO) Ratings Coverage

Out of 11 analysts covering MITIE Group PLC (LON:MTO), 2 rate it a “Buy”, 4 “Sell”, while 5 “Hold”. This means 18% are positive. MITIE Group PLC has been the topic of 46 analyst reports since August 12, 2015 according to StockzIntelligence Inc. The firm earned “Reduce” rating on Tuesday, March 29 by Numis Securities. The rating was maintained by RBC Capital Markets with “Outperform” on Monday, November 23. Liberum Capital maintained Mitie Group PLC (LON:MTO) rating on Wednesday, August 12. Liberum Capital has “Hold” rating and GBX 286 price target. The stock of Mitie Group PLC (LON:MTO) earned “Outperform” rating by RBC Capital Markets on Tuesday, February 23. Canaccord Genuity maintained the stock with “Buy” rating in Monday, November 23 report. The rating was downgraded by RBC Capital Markets on Wednesday, November 16 to “Underperform”. The stock of Mitie Group PLC (LON:MTO) has “Hold” rating given on Wednesday, September 21 by Liberum Capital. The stock of Mitie Group PLC (LON:MTO) earned “Reduce” rating by Numis Securities on Tuesday, September 20. The rating was maintained by Peel Hunt with “Sell” on Monday, November 23. Investec maintained the stock with “Buy” rating in Tuesday, September 29 report.

Another recent and important Mitie Group PLC (LON:MTO) news was published by Seekingalpha.com which published an article titled: “Mitie Group PLC – Overblown Brexit Fears Offer Investors Chance To Clean Up” on September 29, 2016.

Mitie Group plc is a holding company. The company has a market cap of 728.29 million GBP. The Firm is engaged in providing management services. It has a 9.65 P/E ratio. The Firm focuses on providing strategic outsourcing services.

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