The stock of Mitchells & Butlers plc (LON:MAB) gapped down by GBX 2.22 today and has GBX 236.98 target or 4.00% below today’s GBX 246.85 share price. The 6 months technical chart setup indicates high risk for the GBX 1.04 billion company. The gap down was reported on Nov, 24 by Barchart.com. If the GBX 236.98 price target is reached, the company will be worth GBX 41.60 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 3.69% or GBX 9.45 on November 24, hitting GBX 246.85. About 772,140 shares traded hands or 103.57% up from the average. Mitchells & Butlers plc (LON:MAB) has declined 9.92% since April 28, 2016 and is downtrending. It has underperformed by 15.33% the S&P500.
Mitchells & Butlers plc (LON:MAB) Ratings Coverage
Out of 18 analysts covering Mitchells Butlers PLC (LON:MAB), 7 rate it a “Buy”, 2 “Sell”, while 9 “Hold”. This means 39% are positive. Mitchells Butlers PLC has been the topic of 104 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating by Peel Hunt given on Tuesday, November 24. The firm has “Overweight” rating by JP Morgan given on Friday, May 20. The stock of Mitchells & Butlers plc (LON:MAB) has “Buy” rating given on Friday, July 31 by Canaccord Genuity. Canaccord Genuity maintained Mitchells & Butlers plc (LON:MAB) rating on Friday, October 16. Canaccord Genuity has “Hold” rating and GBX 370 price target. The rating was maintained by Panmure Gordon on Tuesday, November 24 with “Sell”. Canaccord Genuity maintained the shares of MAB in a report on Friday, August 21 with “Buy” rating. The rating was maintained by Goldman Sachs on Friday, February 12 with “Buy”. Shore Capital maintained the shares of MAB in a report on Thursday, September 22 with “Hold” rating. As per Friday, May 20, the company rating was maintained by Beaufort Securities. The stock of Mitchells & Butlers plc (LON:MAB) has “Add” rating given on Thursday, September 22 by Numis Securities.
Another recent and important Mitchells & Butlers plc (LON:MAB) news was published by Seekingalpha.com which published an article titled: “Analysis Of Mitchells & Butlers” on October 06, 2016.
Mitchells & Butlers plc is an operator of restaurants, pubs and bars. The company has a market cap of 1.04 billion GBP. The Firm operates through retail operating business and property business divisions. It has a 11.48 P/E ratio. The Firm operates approximately 1,700 restaurants and pubs in the United Kingdom.
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