Headlam Group (LON:HEAD) Share Price Passes Below 200-Day Moving Average – What’s Next?

Headlam Group plc (LON:HEAD) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 56.74 and traded as low as GBX 43. Headlam Group shares last traded at GBX 43, with a volume of 219,140 shares changing hands.

Wall Street Analyst Weigh In

Separately, Peel Hunt reduced their price objective on Headlam Group from GBX 150 to GBX 100 and set a “hold” rating for the company in a report on Wednesday, November 5th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of GBX 100.

Headlam Group Trading Up 0.7%

The stock has a market capitalization of £34.51 million, a P/E ratio of -0.76 and a beta of 1.42. The company has a current ratio of 1.29, a quick ratio of 0.72 and a debt-to-equity ratio of 46.58. The business has a 50-day moving average price of GBX 46.92 and a two-hundred day moving average price of GBX 56.74.

About Headlam Group

Headlam is the UK’s leading floorcovering distributor. Operating for over 30 years, the Company has expanded to a network of c. 2,030 people, 17 distribution branches, and 76 trade counters.

The Company works with suppliers across the globe manufacturing the broadest range of products, and gives them a highly effective route to market, selling their products to the large and diverse trade customer base.

The Company has an extensive customer base spanning independent and multiple retailers, small and large contractors, and house builders.