ME Group International (LON:MEGP) Hits New 1-Year High – Still a Buy?

ME Group International plc (LON:MEGP)’s share price reached a new 52-week high on Wednesday . The stock traded as high as GBX 215 ($2.79) and last traded at GBX 212.50 ($2.76), with a volume of 273209 shares traded. The stock had previously closed at GBX 213.50 ($2.77).

Wall Street Analysts Forecast Growth

MEGP has been the subject of a number of analyst reports. Berenberg Bank reaffirmed a “buy” rating and set a GBX 200 ($2.59) price objective on shares of ME Group International in a research report on Monday, July 15th. Canaccord Genuity Group reissued a “buy” rating and issued a GBX 203 ($2.63) target price on shares of ME Group International in a research note on Tuesday, July 16th.

ME Group International Price Performance

The firm’s 50 day moving average price is GBX 195.81 and its 200-day moving average price is GBX 181.79. The stock has a market cap of £809.43 million, a P/E ratio of 1,527.24 and a beta of 1.20.

About ME Group International

ME Group International plc operates, sells, and services a range of instant-service equipment in the United Kingdom. The company operates through Asia Pacific, Continental Europe, and United Kingdom and Ireland segments. It operates coin-operated automatic photobooths for identification and fun purposes, as well as vending equipment, including digital photo kiosks, laundry machines, business service equipment, amusement machines, and children's rides.