Topps Tiles (LON:TPT) Shares Pass Below Two Hundred Day Moving Average - Here's Why

Key Points

• Topps Tiles Plc's share price has fallen below its 200-day moving average of GBX 35.40, reaching a low of GBX 35.30 during trading.
• Despite this decline, analysts at Peel Hunt have reissued a "buy" rating with a price target of GBX 70 for the stock, indicating potential future growth.
• The company has a market capitalization of £75.30 million and a P/E ratio of -780.04, reflecting its current financial challenges.

Topps Tiles Plc (LON:TPT - Get Free Report)'s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 35.40 ($0.48) and traded as low as GBX 35.30 ($0.48). Topps Tiles shares last traded at GBX 37.30 ($0.50), with a volume of 1,369,962 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Peel Hunt reissued a "buy" rating and set a GBX 70 price objective on shares of Topps Tiles in a research report on Wednesday. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of GBX 51.33.

Topps Tiles Stock Performance

The firm has a market capitalization of £75.30 million, a P/E ratio of -780.04 and a beta of 1.45. The company has a current ratio of 1.04, a quick ratio of 0.37 and a debt-to-equity ratio of 1,807.72. The business's 50 day simple moving average is GBX 36.49 and its two-hundred day simple moving average is GBX 35.40.

Topps Tiles Company Profile

Topps Tiles Plc engages in the retail and wholesale distribution of ceramic and porcelain tiles, natural stone, and related products for residential and commercial markets in the United Kingdom. The company engages in the property management and investment activities; retail and wholesale of wood flooring products; provision of warehousing services; and sale and distribution of architectural ceramic.

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