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

Michelmersh Brick Holdings plc (LON:MBH) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 102.31 ($1.29) and traded as high as GBX 108.50 ($1.37). Michelmersh Brick shares last traded at GBX 107.90 ($1.36), with a volume of 76,130 shares changing hands.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group restated a “buy” rating and issued a GBX 170 ($2.14) target price on shares of Michelmersh Brick in a research note on Friday, November 22nd.

Michelmersh Brick Stock Performance

The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.56 and a current ratio of 2.13. The company has a market capitalization of £97.49 million, a PE ratio of 12.06 and a beta of 1.01. The company has a 50 day moving average price of GBX 105.13 and a 200 day moving average price of GBX 102.31.

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.