McBride (LON:MCB) Sets New 12-Month High – Here’s What Happened

Shares of McBride plc (LON:MCB) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as GBX 161 and last traded at GBX 157.60, with a volume of 4574493 shares changing hands. The stock had previously closed at GBX 156.40.

Analyst Upgrades and Downgrades

Separately, Peel Hunt reiterated a “buy” rating and set a GBX 190 price target on shares of McBride in a report on Thursday, November 20th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of GBX 190.

McBride Trading Up 0.8%

The company has a market cap of £273.59 million, a price-to-earnings ratio of 8.47, a PEG 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. The business’s 50 day moving average price is GBX 137.65 and its 200-day moving average price is GBX 126.80.

McBride announced that its Board of Directors has initiated a share repurchase program on Monday, December 1st that permits the company to buyback 0 shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

McBride Company Profile

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.