Michelmersh Brick (LON:MBH) Price Target Cut to GBX 150 by Analysts at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group has revised its price target for Michelmersh Brick from GBX 160 to GBX 150, indicating a potential upside of 69.68% from the current stock price, while maintaining a "buy" rating.
• Berenberg Bank also decreased its target price for the stock to GBX 150, with three research analysts currently rating it as a "buy" and setting an average consensus price target of GBX 156.67.
• The company has reported a net margin of 11.46% and a return on equity of 8.82%, with expectations of posting around 10.30 EPS for the current year.

Michelmersh Brick (LON:MBH - Free Report) had its price objective decreased by Canaccord Genuity Group from GBX 160 to GBX 150 in a research note published on Tuesday, Marketbeat.com reports. Canaccord Genuity Group currently has a buy rating on the stock.

Separately, Berenberg Bank dropped their price target on Michelmersh Brick from GBX 170 to GBX 150 and set a "buy" rating on the stock in a research note on Tuesday. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, Michelmersh Brick has a consensus rating of "Buy" and a consensus target price of GBX 156.67.

Michelmersh Brick Trading Up 3.7%

MBH stock traded up GBX 3.44 during midday trading on Tuesday, hitting GBX 95.94. 1,904,757 shares of the company's stock were exchanged, compared to its average volume of 174,116. The stock's fifty day moving average price is GBX 106.43 and its 200-day moving average price is GBX 105.68. 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 cap of £88.52 million, a PE ratio of 1,707.12 and a beta of 1.01. Michelmersh Brick has a one year low of GBX 87.13 and a one year high of GBX 119.

Michelmersh Brick (LON:MBH - Get Free Report) last posted its 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%. Research analysts predict that Michelmersh Brick will post 10.3053435 earnings per share for the current fiscal 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.