Forterra (LON:FORT) Stock Price Crosses Below 50-Day Moving Average – Here’s Why

Forterra plc (LON:FORT)’s stock price crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of GBX 188.11 ($2.53) and traded as low as GBX 187.40 ($2.52). Forterra shares last traded at GBX 188 ($2.53), with a volume of 234,037 shares.

Analyst Ratings Changes

Several brokerages recently weighed in on FORT. Royal Bank Of Canada lifted their price target on Forterra from GBX 210 ($2.83) to GBX 220 ($2.96) and gave the company an “outperform” rating in a research report on Thursday, March 13th. Deutsche Bank Aktiengesellschaft raised their price objective on Forterra from GBX 260 ($3.50) to GBX 320 ($4.31) and gave the company a “buy” rating in a report on Thursday, February 20th. Finally, Berenberg Bank reaffirmed a “hold” rating and issued a GBX 170 ($2.29) price target on shares of Forterra in a research note on Wednesday, March 12th.

Forterra Price Performance

The company has a quick ratio of 0.82, a current ratio of 1.79 and a debt-to-equity ratio of 59.58. The company has a market cap of £387.76 million, a PE ratio of 49.22, a P/E/G ratio of 0.30 and a beta of 1.25. The stock has a 50-day simple moving average of GBX 188.11 and a 200 day simple moving average of GBX 171.92.

Insider Activity at Forterra

In other news, insider Ben Guyatt sold 37,622 shares of the company’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of GBX 157 ($2.11), for a total transaction of £59,066.54 ($79,540.18). Also, insider Katherine Innes bought 2,600 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was purchased at an average cost of GBX 173 ($2.33) per share, with a total value of £4,498 ($6,057.10). Company insiders own 6.91% of the company’s stock.

Forterra Company Profile

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.