Macfarlane Group (LON:MACF) Stock Price Passes Below 50-Day Moving Average of $123.43

Macfarlane Group PLC (LON:MACF)’s share price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of GBX 123.43 ($1.58) and traded as low as GBX 123 ($1.57). Macfarlane Group shares last traded at GBX 124 ($1.58), with a volume of 61,629 shares trading hands.

Wall Street Analysts Forecast Growth

MACF has been the subject of a number of analyst reports. Shore Capital reaffirmed a “house stock” rating on shares of Macfarlane Group in a research report on Tuesday, July 16th. Berenberg Bank raised their target price on shares of Macfarlane Group from GBX 145 ($1.85) to GBX 150 ($1.92) and gave the company a “buy” rating in a research report on Monday, July 8th.

Macfarlane Group Trading Down 1.2 %

The stock has a market cap of £195.51 million, a price-to-earnings ratio of 1,361.11 and a beta of 0.69. The company has a quick ratio of 0.79, a current ratio of 1.19 and a debt-to-equity ratio of 37.83. The business’s 50 day simple moving average is GBX 123.48 and its 200 day simple moving average is GBX 128.35.

Macfarlane Group Company Profile

Macfarlane Group PLC, through its subsidiaries, engages in the design, manufacture, and distribution of protective packaging products to businesses. The company operates through Packaging Distribution and Manufacturing Operations segments. The Packaging Distribution segment distributes packaging materials; and supplies storage and warehousing services in the United Kingdom, Ireland, and Europe.