Macfarlane Group (LON:MACF) Share Price Crosses Above Fifty Day Moving Average – Here’s Why

Macfarlane Group PLC (LON:MACF) shares passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of GBX 65.79 and traded as high as GBX 70.50. Macfarlane Group shares last traded at GBX 69.80, with a volume of 114,924 shares traded.

Wall Street Analyst Weigh In

Separately, Shore Capital Group restated a “house stock” rating on shares of Macfarlane Group in a report on Tuesday, June 30th. One analyst has rated the stock with a Buy rating, According to MarketBeat, Macfarlane Group has an average rating of “Buy” and a consensus price target of GBX 120.

Macfarlane Group Trading Up 2.1%

The company has a market capitalization of £111.19 million, a P/E ratio of 17.96 and a beta of 0.54. The company has a 50-day simple moving average of GBX 66.01 and a 200 day simple moving average of GBX 67.68. The company has a debt-to-equity ratio of 74.12, a quick ratio of 0.79 and a current ratio of 0.98.

About Macfarlane Group

Macfarlane Group PLC, through its subsidiaries, designs, manufactures, and distributes protective packaging products to businesses in the United Kingdom and Europe. The company operates through Packaging Distribution and Manufacturing Operations segments. The Packaging Distribution segment distributes packaging materials in the United Kingdom, Ireland, and Europe. The Manufacturing Operations segment designs, manufactures, and assembles timber, corrugated, and foam-based packaging materials in the United Kingdom.