Berenberg Bank Cuts Michelmersh Brick (LON:MBH) Price Target to GBX 150

Key Points

• Berenberg Bank has reduced its price target for Michelmersh Brick stock from GBX 170 to GBX 150, while maintaining a "buy" rating for the stock.
• Michelmersh Brick shares are currently trading down 9.4% at GBX 88.40, with a market capitalization of £81.56 million.
• The company reported earnings of GBX 3.30 per share in its last quarterly results and is projected to have an earnings per share of approximately 10.31 for the current year.

Michelmersh Brick (LON:MBH - Get Free Report) had its target price decreased by analysts at Berenberg Bank from GBX 170 to GBX 150 in a research report issued on Tuesday, Marketbeat.com reports. The brokerage presently has a "buy" rating on the stock. Berenberg Bank's price target points to a potential upside of 56.35% from the company's current price.

Michelmersh Brick Price Performance

MBH stock traded up GBX 3.44 during midday trading on Tuesday, reaching GBX 95.94. 1,904,757 shares of the company's stock traded hands, compared to its average volume of 174,116. The company has a 50-day simple moving average of GBX 106.43 and a two-hundred day simple moving average of GBX 105.68. Michelmersh Brick has a 1-year low of GBX 87.13 and a 1-year high of GBX 119. The company has a market cap of £88.52 million, a price-to-earnings ratio of 1,707.12 and a beta of 1.01. The company has a quick ratio of 1.56, a current ratio of 2.13 and a debt-to-equity ratio of 2.05.

Michelmersh Brick (LON:MBH - Get Free Report) last released its quarterly earnings results on Tuesday, September 2nd. The company reported GBX 3.30 earnings per share for the quarter. Michelmersh Brick had a return on equity of 8.82% and a net margin of 11.46%. On average, analysts anticipate that Michelmersh Brick 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.