Mondi (LON:MNDI) Shares Down 16% – Here’s Why

Mondi plc (LON:MNDI)’s share price was down 16% during trading on Tuesday . The company traded as low as GBX 859 ($11.58) and last traded at GBX 879.60 ($11.86). Approximately 7,918,549 shares were traded during mid-day trading, an increase of 35% from the average daily volume of 5,875,584 shares. The stock had previously closed at GBX 1,047.52 ($14.12).

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Citigroup dropped their target price on shares of Mondi from GBX 1,650 to GBX 1,550 and set a “buy” rating for the company in a research report on Friday, August 1st. JPMorgan Chase & Co. decreased their price objective on shares of Mondi from GBX 1,460 to GBX 1,240 and set an “overweight” rating for the company in a research note on Monday, August 11th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of GBX 1,395.

Mondi Stock Down 1.1%

The company has a market capitalization of £3.83 billion, a price-to-earnings ratio of 2,012.96, a P/E/G ratio of 0.76 and a beta of 0.68. The company has a quick ratio of 1.14, a current ratio of 2.06 and a debt-to-equity ratio of 41.00. The firm has a 50 day moving average price of GBX 1,039 and a two-hundred day moving average price of GBX 1,120.91.

Insider Activity

In other Mondi news, insider Philip Yea bought 5,000 shares of Mondi stock in a transaction dated Monday, October 6th. The stock was bought at an average cost of GBX 888 per share, for a total transaction of £44,400. Over the last quarter, insiders purchased 5,029 shares of company stock valued at $4,470,769. Corporate insiders own 0.17% of the company’s stock.

Mondi Company Profile

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.