Mondi (LON:MNDI) Stock Price Down 12.1% on Analyst Downgrade

Key Points

• Mondi plc shares fell by 12.1% after Citigroup downgraded its price target from GBX 1,650 to GBX 1,550, while maintaining a buy rating.
• JPMorgan Chase & Co. raised their price target on Mondi to GBX 1,460 and assigned an "overweight" rating.
• Insiders have recently purchased a total of 100 shares valued at $118,496, indicating confidence in the company's long-term prospects.

Mondi plc (LON:MNDI - Get Free Report) shares traded down 12.1% during mid-day trading on Friday after Citigroup lowered their price target on the stock from GBX 1,650 to GBX 1,550. Citigroup currently has a buy rating on the stock. Mondi traded as low as GBX 1,027.50 ($13.66) and last traded at GBX 1,027.50 ($13.66). 4,917,192 shares were traded during mid-day trading, a decline of 18% from the average session volume of 6,007,496 shares. The stock had previously closed at GBX 1,168.50 ($15.53).

Separately, JPMorgan Chase & Co. lifted their target price on Mondi from GBX 1,430 ($19.01) to GBX 1,460 ($19.40) and gave the stock an "overweight" rating in a report on Friday, July 18th.

Insider Activity at Mondi

In other news, insider Mike Powell acquired 24 shares of Mondi stock in a transaction that occurred on Monday, July 7th. The shares were acquired at an average price of GBX 1,186 ($15.76) per share, with a total value of £284.64 ($378.31). Also, insider Andrew King acquired 24 shares of the company's stock in a transaction dated Monday, July 7th. The stock was acquired at an average cost of GBX 1,186 ($15.76) per share, with a total value of £284.64 ($378.31). Insiders purchased a total of 100 shares of company stock valued at $118,496 in the last quarter. 1.36% of the stock is owned by insiders.

Mondi Trading Up 2.0%

The stock has a market capitalization of £5.55 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 0.76 and a beta of 0.68. The company has a debt-to-equity ratio of 41.00, a quick ratio of 1.14 and a current ratio of 2.06. The company's 50 day moving average is GBX 1,182.43 and its 200 day moving average is GBX 1,188.82.

About Mondi

Mondi plc, together with its subsidiaries, engages in the manufacture and sale of packaging and paper solutions in Africa, Western Europe, Emerging Europe, North America, South America, Asia, Australia, and internationally. The company operates in three segments: Corrugated Packaging, Flexible Packaging, and Uncoated Fine Paper.