Michelmersh Brick (LON:MBH) Shares Cross 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 Tuesday . The stock has a two hundred day moving average of GBX 89.72 and traded as low as GBX 85.50. Michelmersh Brick shares last traded at GBX 86.89, with a volume of 77,232 shares trading hands.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reissued a “buy” rating and issued a GBX 150 price objective 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, Michelmersh Brick currently has a consensus rating of “Buy” and an average target price of GBX 150.

Michelmersh Brick Stock Up 0.6%

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 firm has a market capitalization of £77.97 million, a P/E ratio of 15.30 and a beta of 1.01. The stock’s 50-day simple moving average is GBX 86.62 and its 200-day simple moving average is GBX 89.72.

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.