Michelmersh Brick (LON:MBH) Stock Crosses Above 200-Day Moving Average – Here’s Why

Michelmersh Brick Holdings plc (LON:MBH) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 100.40 ($1.23) and traded as high as GBX 107 ($1.31). Michelmersh Brick shares last traded at GBX 106 ($1.30), with a volume of 86,738 shares traded.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and issued a GBX 170 ($2.08) price target on shares of Michelmersh Brick in a research note on Friday, November 22nd.

Michelmersh Brick Price Performance

The company has a 50-day moving average of GBX 103.32 and a 200 day moving average of GBX 100.40. The company has a quick ratio of 1.56, a current ratio of 2.13 and a debt-to-equity ratio of 2.05. The stock has a market capitalization of £97.43 million, a PE ratio of 1,300.00 and a beta of 1.01.

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.