Forterra (LON:FORT) Trading Up 1.8% – Still a Buy?

Forterra plc (LON:FORT)’s stock price was up 1.8% during mid-day trading on Monday . The stock traded as high as GBX 182.20 and last traded at GBX 181.20. Approximately 1,348,096 shares were traded during mid-day trading, an increase of 58% from the average daily volume of 854,547 shares. The stock had previously closed at GBX 178.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Jefferies Financial Group reduced their target price on shares of Forterra from GBX 261 to GBX 208 and set a “buy” rating on the stock in a research report on Monday, October 20th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 320 price target on shares of Forterra in a research note on Wednesday, July 30th. Berenberg Bank reiterated a “hold” rating and issued a GBX 220 price objective on shares of Forterra in a report on Monday, September 8th. Citigroup raised their target price on Forterra from GBX 176 to GBX 210 and gave the company a “neutral” rating in a research note on Wednesday, July 30th. Finally, Royal Bank Of Canada dropped their target price on Forterra from GBX 250 to GBX 220 and set an “outperform” rating on the stock in a research report on Wednesday, October 15th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of GBX 228.

Forterra Price Performance

The company has a market cap of £382.18 million, a P/E ratio of 24.49, a P/E/G ratio of 0.30 and a beta of 1.25. The company’s 50-day moving average price is GBX 183.84 and its two-hundred day moving average price is GBX 190.03. The company has a current ratio of 1.79, a quick ratio of 0.82 and a debt-to-equity ratio of 59.58.

Insider Transactions at Forterra

In other news, insider Nigel Lingwood bought 50,000 shares of Forterra stock in a transaction on Thursday, October 23rd. The shares were bought at an average price of GBX 180 per share, with a total value of £90,000. 0.45% of the stock is owned by insiders.

About Forterra

Forterra is a leading UK manufacturer of essential clay and concrete building products, with a unique combination of strong market positions in clay bricks, concrete blocks and precast concrete flooring. Our heritage dates back many decades and the durability, longevity and inherent sustainability of our products is evident in the construction of buildings that last for generations; wherever you are in Britain, you won’t be far from a building with a Forterra product within its fabric.

Our clay brick business combines our extensive secure mineral reserves with modern and efficient high-volume manufacturing processes to produce large quantities of extruded and soft mud bricks, primarily for the new build housing market.