Mondi (LON:MNDI) Stock Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Mondi shares moved above their 200-day moving average, reaching GBX 867 before last trading at GBX 864.80, up 1.3% with 779,296 shares traded.
• Analyst views are mixed but lean positive: Mondi has a “Moderate Buy” consensus rating and an average price target of GBX 937.50, compared with targets ranging from GBX 800 to GBX 1,085.
• Company insiders have continued buying shares, with insiders purchasing 192 shares worth approximately $151,436 over the past 90 days; insiders own 0.20% of the company.

Mondi plc (LON:MNDI - Get Free Report)'s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 806.29 and traded as high as GBX 867. Mondi shares last traded at GBX 864.80, with a volume of 779,296 shares changing hands.

Analysts Set New Price Targets

Several research firms have recently weighed in on MNDI. Deutsche Bank Aktiengesellschaft upped their price target on shares of Mondi from GBX 760 to GBX 825 and gave the stock a "hold" rating in a report on Monday, August 3rd. Citigroup lifted their price objective on Mondi from GBX 820 to GBX 1,040 and gave the company a "buy" rating in a research note on Monday, August 10th. JPMorgan Chase & Co. reduced their target price on Mondi from GBX 840 to GBX 800 and set a "neutral" rating for the company in a research report on Friday, July 31st. Finally, Jefferies Financial Group decreased their target price on Mondi from GBX 1,100 to GBX 1,085 and set a "buy" rating on the stock in a research note on Friday, July 31st. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Mondi currently has an average rating of "Moderate Buy" and an average price target of GBX 937.50.

Mondi Trading Up 1.3%

The company has a debt-to-equity ratio of 62.05, a quick ratio of 1.14 and a current ratio of 1.55. The firm has a market cap of £3.81 billion, a PE ratio of -14.66, a PEG ratio of 0.76 and a beta of 0.61. The stock's 50 day simple moving average is GBX 784.94 and its 200 day simple moving average is GBX 806.29.

Insider Buying and Selling at Mondi

In related news, insider Mike Powell bought 34 shares of the business's stock in a transaction that occurred on Friday, August 7th. The stock was bought at an average cost of GBX 907 per share, for a total transaction of £308.38. Also, insider Andrew King bought 34 shares of Mondi stock in a transaction that occurred on Friday, August 7th. The stock was purchased at an average cost of GBX 907 per share, for a total transaction of £308.38. In the last 90 days, insiders have bought 192 shares of company stock worth $151,436. Corporate insiders own 0.20% 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. The Corrugated Packaging segment provides virgin and recycled containerboards for fresh fruit packaging and heavy and fragile goods transport packaging applications; and corrugated solutions, such as corrugated boxes and packaging products.

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