MJ Gleeson (LON:GLE) Share Price Passes Below Two Hundred Day Moving Average – Here’s Why

MJ Gleeson plc (LON:GLE) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 275.84 and traded as low as GBX 265. MJ Gleeson shares last traded at GBX 274, with a volume of 31,681 shares traded.

Analyst Ratings Changes

Separately, Berenberg Bank decreased their target price on shares of MJ Gleeson from GBX 345 to GBX 310 and set a “buy” rating for the company in a research note on Thursday, June 11th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of GBX 310.

MJ Gleeson Trading Up 5.0%

The business has a 50 day simple moving average of GBX 260.17 and a two-hundred day simple moving average of GBX 275.84. The company has a current ratio of 3.87, a quick ratio of 0.89 and a debt-to-equity ratio of 7.86. The stock has a market cap of £159.84 million, a price-to-earnings ratio of 11.17 and a beta of 0.62.

About MJ Gleeson

MJ Gleeson plc comprises two divisions: Gleeson Homes and Gleeson Land.

Gleeson Homes, under the banner of “Building Homes. Changing Lives” builds high-quality affordable homes across the Midlands and North of England. To meet customer demand, and without compromising affordability, the range of homes available extends from one-bed apartments to five-bedroom houses. With a two-bedroom home available from £100,000, a key objective is to ensure that on all of our developments, a meaningful proportion of homes are affordable to a couple earning the National Living Wage.