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

Michelmersh Brick Holdings plc (LON:MBH)’s stock price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 89.01 and traded as low as GBX 82. Michelmersh Brick shares last traded at GBX 83, with a volume of 103,590 shares.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 150 target price on shares of Michelmersh Brick in a report on Tuesday, December 2nd. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of GBX 150.

Michelmersh Brick Stock Performance

The firm has a fifty day moving average of GBX 86.25 and a 200 day moving average of GBX 88.80. The company has a debt-to-equity ratio of 2.87, a current ratio of 1.97 and a quick ratio of 1.56. The stock has a market capitalization of £73.89 million, a price-to-earnings ratio of 14.50 and a beta of 0.71.

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.