Michelmersh Brick (LON:MBH) Share Price Crosses Below 200 Day Moving Average – Here’s What Happened

Michelmersh Brick Holdings plc (LON:MBH) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 89.01 and traded as low as GBX 82. Michelmersh Brick shares last traded at GBX 83, with a volume of 103,590 shares traded.

Analyst Ratings Changes

Separately, Canaccord Genuity Group restated a “buy” rating and issued a GBX 150 target price on shares of Michelmersh Brick in a research note on Tuesday, December 2nd. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of GBX 150.

Michelmersh Brick Price Performance

The company has a 50-day moving average of GBX 86.41 and a 200-day moving average of GBX 89.01. The company has a current ratio of 1.97, a quick ratio of 1.56 and a debt-to-equity ratio of 2.87. The company has a market capitalization of £75.25 million, a price-to-earnings ratio of 14.77 and a beta of 0.71.

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.