Macfarlane Group (LON:MACF) Share Price Crosses Below 50-Day Moving Average – What’s Next?

Shares of Macfarlane Group PLC (LON:MACF) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of GBX 66.10 and traded as low as GBX 65. Macfarlane Group shares last traded at GBX 65, with a volume of 91,533 shares.

Wall Street Analyst Weigh In

Separately, Shore Capital Group reaffirmed a “house stock” rating on shares of Macfarlane Group in a research report on Tuesday, May 12th. 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 120.

Macfarlane Group Price Performance

The firm has a market capitalization of £104.45 million, a P/E ratio of 16.86 and a beta of 0.53. The company has a debt-to-equity ratio of 74.12, a quick ratio of 0.79 and a current ratio of 0.98. The firm has a 50-day moving average of GBX 66.07 and a 200-day moving average of GBX 68.63.

Insider Buying and Selling at Macfarlane Group

In related news, insider Ivor Gray sold 19,680 shares of the stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of GBX 6, for a total transaction of £1,180.80. Also, insider Peter Atkinson sold 38,077 shares of Macfarlane Group stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of GBX 6, for a total value of £2,284.62. 2.24% of the stock is owned by insiders.

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.