Michelmersh Brick (LON:MBH) Stock Price Crosses Below 200-Day Moving Average – Here’s What Happened

Michelmersh Brick Holdings plc (LON:MBH) shares crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 79.86 and traded as low as GBX 79. Michelmersh Brick shares last traded at GBX 80, with a volume of 59,447 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Berenberg Bank cut their price target on shares of Michelmersh Brick from GBX 150 to GBX 120 and set a “buy” rating on the stock in a report on Wednesday, March 25th. Canaccord Genuity Group reiterated a “buy” rating and set a GBX 130 price objective on shares of Michelmersh Brick in a report on Thursday, May 21st. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, Michelmersh Brick has a consensus rating of “Buy” and an average target price of GBX 125.

Michelmersh Brick Stock Performance

The company has a debt-to-equity ratio of 4.83, a current ratio of 2.24 and a quick ratio of 1.56. The firm has a market cap of £72.53 million, a price-to-earnings ratio of 20.30 and a beta of 0.82. The firm has a fifty day simple moving average of GBX 77.35 and a two-hundred day simple moving average of GBX 79.86.

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.