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

Shares of Michelmersh Brick Holdings plc (LON:MBH) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 100.18 ($1.25) and traded as low as GBX 100 ($1.25). Michelmersh Brick shares last traded at GBX 100.81 ($1.26), with a volume of 23,293 shares traded.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and issued a GBX 170 ($2.12) price target on shares of Michelmersh Brick in a report on Friday, November 22nd.

Michelmersh Brick Stock Performance

The company has a 50-day moving average of GBX 103.40 and a 200-day moving average of GBX 100.18. The company has a current ratio of 2.13, a quick ratio of 1.56 and a debt-to-equity ratio of 2.05. The firm has a market capitalization of £94.44 million, a price-to-earnings ratio of 1,260.13 and a beta of 1.01.

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.