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

Key Points

• Mondi shares rose above their 200-day moving average, reaching GBX 838.80 and last trading at GBX 836.40, compared with the 200-day average of GBX 799.15.
• Analyst sentiment is generally positive, with an overall “Moderate Buy” rating and an average price target of GBX 937.50. Targets range from GBX 800 to GBX 1,085, reflecting mixed but mostly favorable views.
• Recent insider activity has been supportive: company insiders purchased 220 shares worth approximately $178,708 over the past 90 days, although insiders own just 0.20% of the stock.

Shares of Mondi plc (LON:MNDI - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 799.15 and traded as high as GBX 838.80. Mondi shares last traded at GBX 836.40, with a volume of 88,481,750 shares traded.

Wall Street Analyst Weigh In

MNDI has been the topic of several research reports. Citigroup raised their price target on Mondi from GBX 820 to GBX 1,040 and gave the company a "buy" rating in a research note on Monday, August 10th. Jefferies Financial Group lowered their price objective on shares of Mondi from GBX 1,100 to GBX 1,085 and set a "buy" rating for the company in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft increased their target price on shares of Mondi from GBX 760 to GBX 825 and gave the stock a "hold" rating in a report on Monday, August 3rd. Finally, JPMorgan Chase & Co. cut their target price on shares of Mondi from GBX 840 to GBX 800 and set a "neutral" rating on the stock in a research report on Friday, July 31st. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Mondi presently has an average rating of "Moderate Buy" and an average target price of GBX 937.50.

Mondi Stock Performance

The business has a fifty day simple moving average of GBX 824.50 and a two-hundred day simple moving average of GBX 799.15. The company has a debt-to-equity ratio of 62.05, a current ratio of 1.55 and a quick ratio of 1.14. The company has a market cap of £3.69 billion, a PE ratio of -14.18, a price-to-earnings-growth ratio of 0.76 and a beta of 0.61.

Insider Transactions at Mondi

In other news, insider Mike Powell bought 34 shares of Mondi stock in a transaction on Monday, September 7th. The stock was acquired at an average cost of GBX 844 per share, for a total transaction of £286.96. Also, insider Andrew King purchased 34 shares of the firm's stock in a transaction on Monday, September 7th. The shares were purchased at an average cost of GBX 844 per share, with a total value of £286.96. In the last ninety days, insiders have purchased 220 shares of company stock worth $178,708. 0.20% of the stock is owned by corporate insiders.

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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