Macfarlane Group (LON:MACF) Stock Crosses Above 50 Day Moving Average – Here’s What Happened

Macfarlane Group PLC (LON:MACF)’s share price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of GBX 66.66 and traded as high as GBX 75.90. Macfarlane Group shares last traded at GBX 74.50, with a volume of 143,821 shares traded.

Wall Street Analysts Forecast Growth

Separately, Shore Capital Group reissued a “house stock” rating on shares of Macfarlane Group in a report on Tuesday, June 30th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of GBX 120.

Macfarlane Group Trading Down 0.8%

The firm has a market capitalization of £114.92 million, a PE ratio of 18.57 and a beta of 0.54. The business has a 50 day moving average price of GBX 66.66 and a 200-day moving average price of GBX 67.73. The company has a current ratio of 0.98, a quick ratio of 0.79 and a debt-to-equity ratio of 74.12.

Macfarlane Group Company Profile

Macfarlane Group PLC, through its subsidiaries, designs, manufactures, and distributes protective packaging products to businesses in the United Kingdom and Europe. The company operates through Packaging Distribution and Manufacturing Operations segments. The Packaging Distribution segment distributes packaging materials in the United Kingdom, Ireland, and Europe. The Manufacturing Operations segment designs, manufactures, and assembles timber, corrugated, and foam-based packaging materials in the United Kingdom.