McBride (LON:MCB) Share Price Passes Above 200-Day Moving Average – Here’s Why

McBride plc (LON:MCB) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 126.92 and traded as high as GBX 145.40. McBride shares last traded at GBX 142.40, with a volume of 1,937,456 shares changing hands.

Wall Street Analyst Weigh In

Separately, Peel Hunt reissued a “buy” rating and set a GBX 190 price objective on shares of McBride in a research note on Thursday, November 20th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, McBride presently has a consensus rating of “Buy” and a consensus target price of GBX 190.

McBride Trading Up 1.1%

The company has a debt-to-equity ratio of 222.08, a quick ratio of 0.54 and a current ratio of 0.92. The firm has a market capitalization of £249.98 million, a price-to-earnings ratio of 7.74, a P/E/G ratio of -0.36 and a beta of 1.17. The business has a fifty day moving average price of GBX 133.21 and a 200 day moving average price of GBX 126.92.

McBride announced that its Board of Directors has approved a stock buyback program on Monday, December 1st that permits the company to buyback 0 shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

About McBride

With trading roots dating back to 1927, McBride boasts a strong heritage. As the leading European manufacturer and supplier of private label and contract manufactured products for the domestic household and professional cleaning and hygiene markets, McBride offers end‑to‑end development and manufacturing capabilities to a wide range of customers in Europe and Asia Pacific.