Mondi (LON:MNDI) Share Price Breaks Above 200-Day Moving Average – Here’s What Happened

Mondi plc (LON:MNDI)’s share price crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of GBX 798.37 and traded as high as GBX 855. Mondi shares last traded at GBX 836.20, with a volume of 37,215,895 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MNDI. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Mondi from GBX 760 to GBX 825 and gave the company a “hold” rating in a report on Monday, August 3rd. Jefferies Financial Group dropped their price target on shares of Mondi from GBX 1,085 to GBX 1,080 and set a “buy” rating for the company in a research note on Friday. JPMorgan Chase & Co. reduced their price target on shares of Mondi from GBX 840 to GBX 800 and set a “neutral” rating on the stock in a research report on Friday, July 31st. Finally, Citigroup upped their price objective on Mondi from GBX 820 to GBX 1,040 and gave the company a “buy” rating in a report on Monday, August 10th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of GBX 936.25.

Mondi Stock Performance

The stock has a market cap of £3.63 billion, a price-to-earnings ratio of -13.95, a PEG ratio of 0.76 and a beta of 0.61. The stock’s 50 day moving average is GBX 842.85 and its two-hundred day moving average is GBX 798.15. The company has a current ratio of 1.55, a quick ratio of 1.14 and a debt-to-equity ratio of 62.05.

Insider Buying and Selling

In related news, insider Mike Powell purchased 34 shares of the company’s stock in a transaction on Monday, September 7th. The stock was bought at an average price of GBX 844 per share, with a total value of £286.96. Also, insider Andrew King purchased 34 shares of the business’s stock in a transaction dated Monday, September 7th. The stock was bought at an average cost of GBX 844 per share, with a total value of £286.96. Over the last quarter, insiders have bought 220 shares of company stock valued at $178,708. Insiders own 0.20% of the company’s stock.

Mondi Company Profile

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.