Macfarlane Group (LON:MACF) Stock Price Passes Above 50-Day Moving Average – What’s Next?

Shares of Macfarlane Group PLC (LON:MACF) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of GBX 66.66 and traded as high as GBX 75.90. Macfarlane Group shares last traded at GBX 74.50, with a volume of 143,821 shares traded.

Wall Street Analyst Weigh In

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

Macfarlane Group Stock Down 3.2%

The firm has a market cap of £113.38 million, a price-to-earnings ratio of 18.34 and a beta of 0.54. The stock’s 50 day moving average is GBX 67.02 and its 200 day moving average is GBX 67.79. The company has a quick ratio of 0.79, a current ratio of 0.98 and a debt-to-equity ratio of 74.12.

Macfarlane Group Company Profile

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.