Mondi (LON:MNDI) Share Price Passes Below 200 Day Moving Average – Here’s What Happened

Mondi plc (LON:MNDI) shares passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 825.74 and traded as low as GBX 702.20. Mondi shares last traded at GBX 705.21, with a volume of 558,916 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MNDI. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a GBX 760 target price on shares of Mondi in a research note on Monday, May 11th. Citigroup reduced their price objective on Mondi from GBX 1,000 to GBX 940 and set a “buy” rating for the company in a research report on Tuesday, April 28th. Finally, JPMorgan Chase & Co. increased their target price on Mondi from GBX 990 to GBX 1,040 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Mondi has a consensus rating of “Moderate Buy” and an average target price of GBX 1,035.

Mondi Trading Down 1.1%

The firm’s 50-day simple moving average is GBX 736.83 and its 200 day simple moving average is GBX 825.74. The stock has a market cap of £3.07 billion, a P/E ratio of 18.63, a PEG ratio of 0.76 and a beta of 0.58. The company has a current ratio of 1.53, a quick ratio of 1.14 and a debt-to-equity ratio of 60.89.

Insider Buying and Selling

In other Mondi news, insider Andrew King purchased 34 shares of the firm’s stock in a transaction dated Thursday, April 9th. The stock was bought at an average price of GBX 860 per share, with a total value of £292.40. Also, insider Stephen G. Young purchased 5,000 shares of the stock in a transaction dated Monday, April 27th. The shares were acquired at an average cost of GBX 749 per share, for a total transaction of £37,450. Insiders acquired 5,146 shares of company stock valued at $3,863,430 in the last three months. 0.20% of the stock is currently owned by corporate insiders.

About Mondi

Mondi plc, together with its subsidiaries, engages in the manufacture and sale of packaging and paper solutions in Africa, Western Europe, Emerging Europe, North America, South America, Asia, Australia, and internationally. The company operates in three segments: Corrugated Packaging, Flexible Packaging, and Uncoated Fine Paper. The Corrugated Packaging segment provides virgin and recycled containerboards for fresh fruit packaging and heavy and fragile goods transport packaging applications; and corrugated solutions, such as corrugated boxes and packaging products.