Michelmersh Brick (LON:MBH) Shares Cross Below 200-Day Moving Average – Here’s Why

Michelmersh Brick Holdings plc (LON:MBH)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 92.32 and traded as low as GBX 84. Michelmersh Brick shares last traded at GBX 86.89, with a volume of 127,094 shares changing hands.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 150 price objective on shares of Michelmersh Brick in a research report on Tuesday, December 2nd. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of GBX 150.

Michelmersh Brick Stock Performance

The company has a quick ratio of 1.56, a current ratio of 2.13 and a debt-to-equity ratio of 2.05. The business has a 50 day moving average price of GBX 85.12 and a two-hundred day moving average price of GBX 92.32. The stock has a market cap of £78.77 million, a P/E ratio of 15.46 and a beta of 1.01.

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.