Mondi (LON:MNDI) Shares Cross Below 50-Day Moving Average – What’s Next?

Mondi plc (LON:MNDI) shares crossed below its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of GBX 797.08 and traded as low as GBX 783.40. Mondi shares last traded at GBX 790, with a volume of 864,594 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MNDI shares. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 1,080 price objective on shares of Mondi in a research note on Thursday, October 15th. Citigroup increased their target price on Mondi from GBX 820 to GBX 1,040 and gave the stock a “buy” rating in a research note on Monday, August 10th. Deutsche Bank raised their target price on Mondi from GBX 760 to GBX 825 and gave the company a “hold” rating in a report on Monday, August 3rd. Finally, JPMorgan Chase & Co. dropped their target price on Mondi from GBX 840 to GBX 800 and set a “neutral” rating for the company in a research report on Friday, July 31st. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of GBX 936.25.

Mondi Trading Up 0.2%

The company’s 50 day simple moving average is GBX 797.08 and its 200 day simple moving average is GBX 808.66. The firm has a market cap of £3.49 billion, a price-to-earnings ratio of -13.42, a P/E/G ratio of 0.76 and a beta of 0.61. The company has a debt-to-equity ratio of 62.05, a current ratio of 1.55 and a quick ratio of 1.14.

Insider Buying and Selling at Mondi

In related news, insider Mike Powell purchased 34 shares of Mondi stock in a transaction on Monday, September 7th. The shares were bought at an average price of GBX 844 per share, with a total value of £286.96. Also, insider Andrew King purchased 34 shares of Mondi stock in a transaction on Monday, September 7th. The stock was bought at an average cost of GBX 844 per share, for a total transaction of £286.96. Insiders have purchased a total of 146 shares of company stock valued at $118,505 over the last three months. 0.20% of the stock is currently owned by 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.