Michelmersh Brick (LON:MBH) Given New GBX 130 Price Target at Canaccord Genuity Group

Key Points

• Canaccord Genuity cut its price target for Michelmersh Brick from GBX 150 to GBX 130 but maintained a "buy" rating; the new target implies an ~82.24% upside from the current share price.
• The shares opened at about GBX 71.33 (market cap £64.67m), trade well below their 1‑year high of GBX 119, and show a P/E of 12.69 with a debt-to-equity ratio of 2.87.
• Michelmersh Brick is a leading UK clay brick and paver manufacturer with seven brands, producing over 120 million bricks and pavers per year and operating a landfill business (New Acres) for ancillary development opportunities.

Michelmersh Brick (LON:MBH - Get Free Report) had its price objective dropped by analysts at Canaccord Genuity Group from GBX 150 to GBX 130 in a research report issued to clients and investors on Tuesday,Digital Look reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's target price would indicate a potential upside of 82.24% from the stock's current price.

Michelmersh Brick Stock Performance

Shares of LON MBH opened at GBX 71.33 on Tuesday. The stock has a market cap of £64.67 million, a PE ratio of 12.69 and a beta of 0.71. Michelmersh Brick has a 1 year low of GBX 66 and a 1 year high of GBX 119. The firm has a fifty day moving average price of GBX 85.31 and a 200-day moving average price of GBX 87.71. The company has a debt-to-equity ratio of 2.87, a current ratio of 1.97 and a quick ratio of 1.56.

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.

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