Royal Bank Of Canada Cuts Forterra (LON:FORT) Price Target to GBX 180

Forterra (LON:FORT) had its price target cut by Royal Bank Of Canada from GBX 195 to GBX 180 in a research report sent to investors on Wednesday,Digital Look reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also issued reports on FORT. Berenberg Bank restated a “hold” rating and issued a GBX 170 target price on shares of Forterra in a research note on Wednesday. Jefferies Financial Group reiterated a “buy” rating and set a GBX 204 price target on shares of Forterra in a research note on Wednesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Forterra from GBX 320 to GBX 250 and set a “buy” rating on the stock in a report on Wednesday, May 20th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 198.

Forterra Trading Up 2.0%

LON FORT opened at GBX 139.60 on Wednesday. The company has a fifty day simple moving average of GBX 135.32 and a two-hundred day simple moving average of GBX 157.23. The stock has a market cap of £286.31 million, a P/E ratio of 17.45, a P/E/G ratio of 0.30 and a beta of 0.73. Forterra has a 12-month low of GBX 126.40 and a 12-month high of GBX 206. The company has a current ratio of 1.57, a quick ratio of 0.82 and a debt-to-equity ratio of 43.78.

Forterra (LON:FORT) last posted its quarterly earnings data on Tuesday, July 28th. The company reported GBX 5.10 EPS for the quarter. Forterra had a net margin of 5.09% and a return on equity of 7.98%. On average, analysts forecast that Forterra will post 11.9888346 earnings per share for the current year.

Insider Buying and Selling at Forterra

In other Forterra news, insider Nigel Lingwood acquired 25,000 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were purchased at an average price of GBX 133 per share, for a total transaction of £33,250. Also, insider Neil Ash bought 11,500 shares of Forterra stock in a transaction that occurred on Friday, June 12th. The shares were acquired at an average cost of GBX 133 per share, with a total value of £15,295. Insiders bought a total of 54,000 shares of company stock worth $7,164,500 over the last ninety days. Insiders own 0.46% of the company’s stock.

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.