Michelmersh Brick (LON:MBH) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Michelmersh Brick Holdings plc (LON:MBH) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 100.40 ($1.22) and traded as high as GBX 107 ($1.30). Michelmersh Brick shares last traded at GBX 106 ($1.29), with a volume of 86,738 shares trading hands.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reiterated a “buy” rating and set a GBX 170 ($2.07) price objective on shares of Michelmersh Brick in a research report on Friday, November 22nd.

Michelmersh Brick Stock Performance

The firm’s 50-day moving average price is GBX 103.31 and its two-hundred day moving average price is GBX 100.53. The company has a quick ratio of 1.56, a current ratio of 2.13 and a debt-to-equity ratio of 2.05. The firm has a market capitalization of £97.90 million, a PE ratio of 1,306.25 and a beta of 1.01.

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.