Canaccord Genuity Group Has Lowered Expectations for Michelmersh Brick (LON:MBH) Stock Price

Michelmersh Brick (LON:MBH) had its price objective cut by equities researchers at Canaccord Genuity Group from GBX 170 ($2.19) to GBX 160 ($2.06) in a research note issued on Tuesday, Marketbeat Ratings reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 65.59% from the stock’s previous close.

Michelmersh Brick Trading Down 1.4 %

Shares of LON MBH opened at GBX 96.63 ($1.24) on Tuesday. Michelmersh Brick has a twelve month low of GBX 92 ($1.18) and a twelve month high of GBX 111.65 ($1.44). The stock has a market cap of £88.86 million, a price-to-earnings ratio of 10.99 and a beta of 1.01. The company has a quick ratio of 1.56, a current ratio of 2.13 and a debt-to-equity ratio of 2.05. The company’s fifty day moving average is GBX 105.25 and its 200-day moving average is GBX 102.46.

Michelmersh Brick (LON:MBH) last posted its earnings results on Tuesday, March 25th. The company reported GBX 8.18 ($0.11) earnings per share for the quarter. Michelmersh Brick had a return on equity of 8.82% and a net margin of 11.46%. Equities research analysts predict that Michelmersh Brick will post 10.3053435 EPS for the current year.

About Michelmersh Brick

Michelmersh Brick Holdings PLC is a business with seven market leading brands: Blockleys, Carlton, Charnwood, Freshfield Lane, Michelmersh, Hathern Terra Cotta and Floren. These divisions operate within a fully integrated business combining the manufacture of clay bricks and pavers. The Group also includes a landfill operator, New Acres Limited, and seeks to develop future landfill and development opportunities on ancillary land assets.

Established in 1997 the Company has grown through acquisition and organic growth into a profitable and asset rich business, producing over 120 million clay bricks and pavers per annum.