Michelmersh Brick (LON:MBH) Stock Price Crosses Below 200-Day Moving Average – Here’s What Happened

Michelmersh Brick Holdings plc (LON:MBH) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 93.41 and traded as low as GBX 84.40. Michelmersh Brick shares last traded at GBX 85, with a volume of 176,075 shares traded.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 150 price target on shares of Michelmersh Brick in a research note on Tuesday, December 2nd. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, Michelmersh Brick has an average rating of “Buy” and an average target price of GBX 150.

Michelmersh Brick Stock Performance

The stock’s fifty day moving average price is GBX 85.18 and its two-hundred day moving average price is GBX 93.41. The company has a market cap of £77.09 million, a P/E ratio of 15.12 and a beta of 1.01. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.56 and a current ratio of 2.13.

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.