Michelmersh Brick (LON:MBH) Shares Pass Below Two Hundred Day Moving Average – Here’s What Happened

Michelmersh Brick Holdings plc (LON:MBH)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 80.03 and traded as low as GBX 78. Michelmersh Brick shares last traded at GBX 79.10, with a volume of 40,100 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on MBH shares. Berenberg Bank lowered their target price on shares of Michelmersh Brick from GBX 150 to GBX 120 and set a “buy” rating for the company in a research note on Wednesday, March 25th. Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 130 price target on shares of Michelmersh Brick in a report on Thursday, May 21st. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Michelmersh Brick currently has an average rating of “Buy” and an average target price of GBX 125.

Michelmersh Brick Price Performance

The firm has a market cap of £71.62 million, a PE ratio of 20.05 and a beta of 0.82. The company has a debt-to-equity ratio of 4.83, a quick ratio of 1.56 and a current ratio of 2.24. The firm’s 50-day moving average price is GBX 76.30 and its two-hundred day moving average price is GBX 80.03.

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.