Michelmersh Brick (LON:MBH) Shares Cross Below 200 Day Moving Average – Here’s What Happened

Michelmersh Brick Holdings plc (LON:MBH) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 79.86 and traded as low as GBX 79. Michelmersh Brick shares last traded at GBX 80, with a volume of 59,447 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MBH. Berenberg Bank reduced their price objective on Michelmersh Brick from GBX 150 to GBX 120 and set a “buy” rating on the stock in a research note on Wednesday, March 25th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a GBX 130 price objective on shares of Michelmersh Brick in a research note on Thursday, May 21st. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, Michelmersh Brick has an average rating of “Buy” and a consensus price target of GBX 125.

Michelmersh Brick Price Performance

The company has a debt-to-equity ratio of 4.83, a current ratio of 2.24 and a quick ratio of 1.56. The firm has a market cap of £72.53 million, a P/E ratio of 20.30 and a beta of 0.82. The stock’s 50-day simple moving average is GBX 77.35 and its two-hundred day simple moving average is GBX 79.86.

Michelmersh Brick Company Profile

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.