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

McBride plc (LON:MCB) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 126.80 and traded as high as GBX 158.20. McBride shares last traded at GBX 156.40, with a volume of 314,093 shares.

Analysts Set New Price Targets

Separately, Peel Hunt reiterated a “buy” rating and set a GBX 190 target price on shares of McBride in a research report on Thursday, November 20th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of GBX 190.

McBride Trading Up 2.2%

The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 222.08. The business’s fifty day moving average is GBX 137.65 and its 200 day moving average is GBX 126.80. The stock has a market cap of £277.41 million, a PE ratio of 8.59, a P/E/G ratio of -0.36 and a beta of 1.17.

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

McBride Company Profile

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.