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

Michelmersh Brick Holdings plc (LON:MBH) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 77.27 and traded as low as GBX 74. Michelmersh Brick shares last traded at GBX 74.15, with a volume of 58,133 shares.

Analyst Upgrades and Downgrades

MBH has been the topic of a number of research analyst reports. Berenberg Bank restated a “buy” rating and issued a GBX 120 price target on shares of Michelmersh Brick in a research note on Wednesday, September 2nd. Canaccord Genuity Group reiterated a “buy” rating and set a GBX 130 price objective on shares of Michelmersh Brick in a research report on Thursday, May 21st. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of GBX 125.

Michelmersh Brick Stock Up 0.8%

The stock has a market cap of £67.54 million, a price-to-earnings ratio of 18.08 and a beta of 0.81. The company has a current ratio of 1.72, a quick ratio of 1.56 and a debt-to-equity ratio of 9.44. The stock’s 50-day moving average price is GBX 77.28 and its 200-day moving average price is GBX 77.15.

Michelmersh Brick (LON:MBH) last issued its quarterly earnings results on Tuesday, September 1st. The company reported GBX 2.56 earnings per share for the quarter. Michelmersh Brick had a return on equity of 4.06% and a net margin of 5.66%. On average, sell-side analysts expect that Michelmersh Brick Holdings plc will post 10.3053435 earnings per share for the current 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.