Macfarlane Group (LON:MACF) Shares Cross Above 50 Day Moving Average – Here’s Why

Macfarlane Group PLC (LON:MACF)’s share price passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of GBX 67.72 and traded as high as GBX 70.85. Macfarlane Group shares last traded at GBX 69.50, with a volume of 257,794 shares.

Analyst Upgrades and Downgrades

Separately, Shore Capital Group reissued a “house stock” rating on shares of Macfarlane Group in a research report on Tuesday, June 30th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of GBX 120.

Macfarlane Group Stock Performance

The company has a market capitalization of £111.67 million, a price-to-earnings ratio of 18.07 and a beta of 0.54. The company has a debt-to-equity ratio of 74.12, a current ratio of 0.98 and a quick ratio of 0.79. The stock has a 50 day simple moving average of GBX 67.72 and a two-hundred day simple moving average of GBX 67.81.

About Macfarlane Group

Macfarlane Group PLC, through its subsidiaries, designs, manufactures, and distributes protective packaging products to businesses in the United Kingdom and Europe. The company operates through Packaging Distribution and Manufacturing Operations segments. The Packaging Distribution segment distributes packaging materials in the United Kingdom, Ireland, and Europe. The Manufacturing Operations segment designs, manufactures, and assembles timber, corrugated, and foam-based packaging materials in the United Kingdom.