The Royal Bank Of Canada Downgrades Mitie Group PLC (MTO) to Sector Performer

The Royal Bank Of Canada Downgrades Mitie Group PLC (MTO) to Sector Performer

Mitie Group PLC (LON:MTO) was downgraded by Royal Bank Of Canada to a “sector performer” rating in a note issued to investors on Thursday. They currently have a GBX 195 ($2.41) price objective on the stock, down from their prior price objective of GBX 310 ($3.84). Royal Bank Of Canada’s target price would suggest a potential downside of 5.52% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the company. Citigroup Inc. cut their price objective on Mitie Group PLC from GBX 280 ($3.47) to GBX 210 ($2.60) and set a “neutral” rating on the stock in a report on Thursday. Societe Generale reiterated a “buy” rating and set a GBX 270 ($3.34) price objective on shares of Mitie Group PLC in a report on Monday. Peel Hunt reiterated a “sell” rating and set a GBX 254 ($3.14) price objective on shares of Mitie Group PLC in a report on Monday. Numis Securities Ltd reiterated a “reduce” rating and set a GBX 166 ($2.05) price objective on shares of Mitie Group PLC in a report on Tuesday, September 20th. Finally, Barclays PLC cut their price objective on Mitie Group PLC from GBX 250 ($3.09) to GBX 166 ($2.05) and set an “underweight” rating on the stock in a report on Tuesday, September 20th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of GBX 240.10 ($2.97).

Mitie Group PLC (LON:MTO) opened at 200.50 on Thursday. The company’s market cap is GBX 710.57 million. The stock’s 50 day moving average is GBX 231.98 and its 200 day moving average is GBX 254.59. Mitie Group PLC has a 52-week low of GBX 178.00 and a 52-week high of GBX 341.00.

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