McBride (LON:MCB) Hits New 12-Month High – What’s Next?

McBride plc (LON:MCB) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as GBX 165.60 and last traded at GBX 164.18, with a volume of 770143 shares. The stock had previously closed at GBX 158.80.

Analysts Set New Price Targets

Separately, Peel Hunt reissued a “buy” rating and set a GBX 190 price objective on shares of McBride in a report on Thursday, November 20th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of GBX 190.

McBride Stock Performance

The firm’s fifty day moving average price is GBX 146.02 and its two-hundred day moving average price is GBX 129.13. The stock has a market capitalization of £284.45 million, a PE ratio of 8.83, a price-to-earnings-growth ratio of -0.36 and a beta of 1.17. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 222.08.

McBride announced that its Board of Directors has approved a stock repurchase plan on Monday, December 1st that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

About McBride

With trading roots dating back to 1927, McBride boasts a strong heritage. As the leading European manufacturer and supplier of private label and contract manufactured products for the domestic household and professional cleaning and hygiene markets, McBride offers end‑to‑end development and manufacturing capabilities to a wide range of customers in Europe and Asia Pacific.