Mondi (LON:MNDI) Trading Down 15.2% - Here's Why

Key Points

• Mondi plc shares dropped by 15.2%, trading as low as GBX 859 ($11.58), significantly lower than their previous closing price of GBX 1,047.52 ($14.12).
• Analysts from Citigroup and JPMorgan have reduced their target prices for Mondi from GBX 1,650 to GBX 1,550 and from GBX 1,460 to GBX 1,240, respectively, while maintaining a "buy" and "overweight" rating.
• Insider Philip Yea purchased 5,000 shares at an average cost of GBX 888, representing confidence in the stock amid recent declines.

Mondi plc (LON:MNDI - Get Free Report) shares were down 15.2% during mid-day trading on Monday . The stock traded as low as GBX 859 ($11.58) and last traded at GBX 888.80 ($11.98). Approximately 58,598,082 shares changed hands during trading, an increase of 855% from the average daily volume of 6,138,172 shares. The stock had previously closed at GBX 1,047.52 ($14.12).

Analyst Ratings Changes

Several brokerages have recently issued reports on MNDI. Citigroup reduced their target price on shares of Mondi from GBX 1,650 to GBX 1,550 and set a "buy" rating on the stock in a research note on Friday, August 1st. JPMorgan Chase & Co. cut their price target on shares of Mondi from GBX 1,460 to GBX 1,240 and set an "overweight" rating on the stock in a research note on Monday, August 11th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, Mondi currently has a consensus rating of "Buy" and a consensus price target of GBX 1,395.

Mondi Stock Down 16.0%

The firm's 50-day moving average price is GBX 1,045.18 and its 200 day moving average price is GBX 1,123.22. The company has a current ratio of 2.06, a quick ratio of 1.14 and a debt-to-equity ratio of 41.00. The company has a market capitalization of £3.87 billion, a price-to-earnings ratio of 2,036.11, a PEG ratio of 0.76 and a beta of 0.68.

Insider Activity

In other Mondi news, insider Philip Yea acquired 5,000 shares of the company's stock in a transaction that occurred on Monday, October 6th. The stock was acquired at an average cost of GBX 888 per share, for a total transaction of £44,400. In the last 90 days, insiders acquired 5,029 shares of company stock valued at $4,470,769. Company insiders own 0.17% 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.