McBride (LON:MCB) Board Initiates Stock Buyback Plan

McBride (LON:MCB) announced that its board has authorized a share repurchase plan on Monday, December 1st, RTT News reports. The company plans to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

McBride Price Performance

Shares of McBride stock traded up GBX 0.60 on Monday, hitting GBX 124.40. 2,849,547 shares of the company traded hands, compared to its average volume of 429,858. The company has a market cap of £217.96 million, a P/E ratio of 6.69, a P/E/G ratio of -0.36 and a beta of 1.17. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 222.08. McBride has a 12-month low of GBX 96.62 and a 12-month high of GBX 162. The firm’s 50-day simple moving average is GBX 120.70 and its 200 day simple moving average is GBX 129.72.

McBride (LON:MCB) last posted its quarterly earnings results on Wednesday, September 17th. The company reported GBX 22.10 EPS for the quarter. McBride had a net margin of 3.56% and a return on equity of 62.24%. Analysts expect that McBride will post 19.2307692 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Peel Hunt restated a “buy” rating and issued a GBX 190 price objective on shares of McBride in a report on Thursday, November 20th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of GBX 190.

About McBride

With trading roots dating back to 1927, McBride boasts a strong heritage. As the leading European manufacturer and supplier of private label and contract manufactured products for the domestic household and professional cleaning and hygiene markets, McBride offers end‑to‑end development and manufacturing capabilities to a wide range of customers in Europe and Asia Pacific.