Mondi (LON:MNDI) Shares Down 12.1% - Here's Why

Key Points

• Mondi plc shares fell by 12.1% to GBX 1,027.50 ($13.57) during trading on Thursday, marking a significant decline from a previous close of GBX 1,168.50 ($15.44).
• Despite the drop in share price, JPMorgan Chase & Co. has upgraded Mondi's price target from GBX 1,430 to GBX 1,460, indicating an "overweight" rating.
• In recent insider transactions, company insiders purchased a total of 100 shares valued at $118,496, suggesting confidence in the company's future.

Mondi plc (LON:MNDI - Get Free Report) shares traded down 12.1% on Thursday . The company traded as low as GBX 1,027.50 ($13.64) and last traded at GBX 1,027.50 ($13.64). 4,917,192 shares traded hands 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 ($15.52).

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MNDI. JPMorgan Chase & Co. lifted their price target on Mondi from GBX 1,430 ($18.99) to GBX 1,460 ($19.39) and gave the company an "overweight" rating in a research note on Friday, July 18th. Citigroup dropped their target price on Mondi from GBX 1,650 ($21.91) to GBX 1,550 ($20.58) and set a "buy" rating on the stock in a report on Friday.

Mondi Stock Performance

The company's 50 day moving average price is GBX 1,185.44 and its 200-day moving average price is GBX 1,189.91. The stock has a market cap of £5.45 billion, a P/E ratio of 14.11, a price-to-earnings-growth 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.

Insider Activity

In other Mondi news, insider Mike Powell acquired 24 shares of Mondi stock in a transaction on Monday, July 7th. The stock was purchased at an average price of GBX 1,186 ($15.75) per share, for a total transaction of £284.64 ($377.96). Also, insider Andrew King purchased 24 shares of the firm's stock in a transaction dated Monday, July 7th. The shares were bought at an average price of GBX 1,186 ($15.75) per share, with a total value of £284.64 ($377.96). In the last quarter, insiders acquired 100 shares of company stock valued at $118,496. Company insiders own 1.36% of the company's stock.

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.