Michelmersh Brick (LON:MBH) Share Price Passes Below 200 Day Moving Average – Here’s Why

Michelmersh Brick Holdings plc (LON:MBH) shares crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 86.46 and traded as low as GBX 70. Michelmersh Brick shares last traded at GBX 70, with a volume of 291,938 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MBH. Canaccord Genuity Group decreased their target price on Michelmersh Brick from GBX 150 to GBX 130 and set a “buy” rating on the stock in a report on Tuesday, March 24th. Berenberg Bank cut their price target on Michelmersh Brick from GBX 150 to GBX 120 and set a “buy” rating for the company in a report on Wednesday, March 25th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Michelmersh Brick has an average rating of “Buy” and an average price target of GBX 125.

Michelmersh Brick Stock Down 2.8%

The firm has a market cap of £63.46 million, a P/E ratio of 12.46 and a beta of 0.71. The firm’s fifty day moving average is GBX 83.57 and its 200 day moving average is GBX 86.46. The company has a debt-to-equity ratio of 4.83, a quick ratio of 1.56 and a current ratio of 2.24.

Michelmersh Brick (LON:MBH) last released its quarterly earnings results on Tuesday, March 24th. The company reported GBX 7.50 earnings per share for the quarter. Michelmersh Brick had a net margin of 5.30% and a return on equity of 3.91%. As a group, equities research analysts anticipate that Michelmersh Brick Holdings plc will post 10.3053435 earnings per share for the current fiscal year.

Michelmersh Brick Company Profile

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.