Michelmersh Brick (LON:MBH) Shares Pass Below 200-Day Moving Average – Here’s Why

Michelmersh Brick Holdings plc (LON:MBH) shares crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 82.58 and traded as low as GBX 68.20. Michelmersh Brick shares last traded at GBX 68.40, with a volume of 249,734 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Canaccord Genuity Group dropped their price objective on shares of Michelmersh Brick from GBX 150 to GBX 130 and set a “buy” rating for the company in a research note on Tuesday, March 24th. Berenberg Bank dropped their price objective on shares of Michelmersh Brick from GBX 150 to GBX 120 and set a “buy” rating for the company in a research note on Wednesday, March 25th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of GBX 125.

Michelmersh Brick Stock Performance

The stock’s 50-day moving average is GBX 74.94 and its 200-day moving average is GBX 82.37. The stock has a market cap of £64.23 million, a price-to-earnings ratio of 17.98 and a beta of 0.78. The company has a debt-to-equity ratio of 4.83, a current ratio of 2.24 and a quick ratio of 1.56.

Michelmersh Brick (LON:MBH) last announced its earnings results on Tuesday, March 24th. The company reported GBX 7.50 earnings per share (EPS) for the quarter. Michelmersh Brick had a net margin of 5.30% and a return on equity of 3.91%. Analysts anticipate that Michelmersh Brick Holdings plc will post 10.3053435 EPS for the current fiscal year.

About Michelmersh Brick

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.