Mondi (LON:MNDI) Shares Down 16% – Here’s Why

Mondi plc (LON:MNDI) shares traded down 16% during mid-day trading on Tuesday . The stock traded as low as GBX 859 ($11.58) and last traded at GBX 879.60 ($11.86). 7,918,549 shares were traded during trading, an increase of 35% from the average session volume of 5,875,584 shares. The stock had previously closed at GBX 1,047.52 ($14.12).

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MNDI. JPMorgan Chase & Co. cut their target price on shares of Mondi from GBX 1,460 to GBX 1,240 and set an “overweight” rating on the stock in a research report on Monday, August 11th. Citigroup cut their price objective on shares of Mondi from GBX 1,650 to GBX 1,550 and set a “buy” rating on the stock in a report on Friday, August 1st. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of GBX 1,395.

Mondi Price Performance

The company’s 50 day simple moving average is GBX 1,039 and its 200 day simple moving average is GBX 1,120.91. The stock has a market cap of £3.82 billion, a P/E ratio of 2,008.80, a P/E/G ratio of 0.76 and a beta of 0.68. The company has a debt-to-equity ratio of 41.00, a current ratio of 2.06 and a quick ratio of 1.14.

Insider Transactions at Mondi

In other Mondi news, insider Philip Yea purchased 5,000 shares of the company’s stock in a transaction dated Monday, October 6th. The shares were bought at an average price of GBX 888 per share, with a total value of £44,400. Insiders bought 5,029 shares of company stock valued at $4,470,769 over the last ninety days. 0.17% of the stock is currently owned by insiders.

About Mondi

Mondi plc, together with its subsidiaries, engages in the manufacture and sale of packaging and paper solutions in Africa, Western Europe, Emerging Europe, North America, South America, Asia, Australia, and internationally. The company operates in three segments: Corrugated Packaging, Flexible Packaging, and Uncoated Fine Paper.