Michelmersh Brick (LON:MBH) Share Price Passes Below Two Hundred Day Moving Average – Here’s Why

Michelmersh Brick Holdings plc (LON:MBH) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 98.69 and traded as low as GBX 83. Michelmersh Brick shares last traded at GBX 83, with a volume of 43,611 shares trading hands.

Analyst Ratings Changes

A number of analysts recently commented on MBH shares. Berenberg Bank reduced their price objective on Michelmersh Brick from GBX 170 to GBX 150 and set a “buy” rating for the company in a research report on Tuesday, September 2nd. Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 150 price target on shares of Michelmersh Brick in a research report on Tuesday, December 2nd. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of GBX 150.

Michelmersh Brick Stock Down 1.2%

The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.56 and a current ratio of 2.13. The company has a market capitalization of £75.44 million, a PE ratio of 14.77 and a beta of 1.01. The company’s fifty day moving average is GBX 86.31 and its 200-day moving average is GBX 98.69.

About Michelmersh Brick

Michelmersh Brick Holdings PLC is a business with seven market leading brands: Blockleys, Carlton, Charnwood, Freshfield Lane, Michelmersh, Hathern Terra Cotta and Floren. These divisions operate within a fully integrated business combining the manufacture of clay bricks and pavers. The Group also includes a landfill operator, New Acres Limited, and seeks to develop future landfill and development opportunities on ancillary land assets.

Established in 1997 the Company has grown through acquisition and organic growth into a profitable and asset rich business, producing over 120 million clay bricks and pavers per annum.