Mondi (LON:MNDI) Stock Crosses Below 200 Day Moving Average – Here’s Why

Mondi plc (LON:MNDI) shares passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 825.74 and traded as low as GBX 702.20. Mondi shares last traded at GBX 705.21, with a volume of 558,916 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MNDI shares. JPMorgan Chase & Co. reduced their price objective on shares of Mondi from GBX 1,040 to GBX 840 and set a “neutral” rating for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a GBX 760 target price on shares of Mondi in a research report on Monday, May 11th. Finally, Citigroup cut their target price on Mondi from GBX 1,000 to GBX 940 and set a “buy” rating on the stock in a report on Tuesday, April 28th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Mondi presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 985.

Mondi Trading Up 0.9%

The company’s fifty day moving average is GBX 734.97 and its 200-day moving average is GBX 822.95. The company has a current ratio of 1.53, a quick ratio of 1.14 and a debt-to-equity ratio of 60.89. The firm has a market capitalization of £3.06 billion, a P/E ratio of 18.56, a P/E/G ratio of 0.76 and a beta of 0.58.

Insider Buying and Selling at Mondi

In other Mondi news, insider Mike Powell acquired 42 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was acquired at an average price of GBX 710 per share, with a total value of £298.20. Also, insider Andrew King acquired 42 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The shares were acquired at an average cost of GBX 710 per share, with a total value of £298.20. Insiders bought 5,162 shares of company stock worth $3,864,590 over the last ninety days. Company insiders own 0.20% of the company’s stock.

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.