Michelmersh Brick (LON:MBH) Price Target Lowered to GBX 120 at Berenberg Bank

Key Points

• Berenberg Bank cut its price target on Michelmersh Brick to GBX 120 (from GBX 150) but kept a Buy rating, implying about a 68.7% upside; Canaccord also trimmed its target to GBX 130 with a Buy rating, leaving a consensus target of GBX 125.
• Shares opened at around GBX 71.15, well below the analysts' targets and the 52‑week high of GBX 119, with a market cap of £64.5m and a trailing P/E of 12.66, highlighting significant implied upside relative to the current price.

Michelmersh Brick (LON:MBH - Get Free Report) had its price target cut by Berenberg Bank from GBX 150 to GBX 120 in a note issued to investors on Wednesday, MarketBeat.com reports. The brokerage currently has a "buy" rating on the stock. Berenberg Bank's target price points to a potential upside of 68.66% from the stock's previous close.

Separately, Canaccord Genuity Group decreased their price target on Michelmersh Brick from GBX 150 to GBX 130 and set a "buy" rating on the stock in a research note on Tuesday. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of GBX 125.

Michelmersh Brick Trading Up 1.6%

LON:MBH opened at GBX 71.15 on Wednesday. Michelmersh Brick has a 52-week low of GBX 66 and a 52-week high of GBX 119. The company has a quick ratio of 1.56, a current ratio of 1.97 and a debt-to-equity ratio of 2.87. The stock has a fifty day simple moving average of GBX 85.02 and a 200-day simple moving average of GBX 87.52. The company has a market capitalization of £64.50 million, a PE ratio of 12.66 and a beta of 0.71.

Michelmersh Brick (LON:MBH - Get Free Report) last posted its quarterly earnings data on Tuesday, March 24th. The company reported GBX 7.50 earnings per share (EPS) for the quarter. Michelmersh Brick had a return on equity of 5.56% and a net margin of 7.48%. On average, equities research analysts expect 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.

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