Ibstock (LON:IBST) Stock Passes Below 50 Day Moving Average – Here’s What Happened

Ibstock plc (LON:IBST)’s stock price crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of GBX 133.11 and traded as low as GBX 126.40. Ibstock shares last traded at GBX 135.40, with a volume of 2,518,901 shares changing hands.

Analyst Ratings Changes

IBST has been the topic of a number of research analyst reports. Jefferies Financial Group dropped their price target on Ibstock from GBX 188 to GBX 143 and set a “buy” rating on the stock in a research report on Monday, October 20th. Royal Bank Of Canada dropped their target price on shares of Ibstock from GBX 210 to GBX 170 and set an “outperform” rating on the stock in a report on Wednesday, October 15th. Berenberg Bank cut their price target on shares of Ibstock from GBX 170 to GBX 150 and set a “hold” rating on the stock in a research note on Wednesday, October 15th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Ibstock from GBX 210 to GBX 190 and set a “buy” rating for the company in a research report on Friday, October 10th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of GBX 163.25.

Ibstock Trading Up 1.5%

The stock has a market cap of £535.19 million, a price-to-earnings ratio of 45.20, a P/E/G ratio of 0.47 and a beta of 1.34. The business has a 50-day simple moving average of GBX 133 and a two-hundred day simple moving average of GBX 148.46. The company has a debt-to-equity ratio of 46.91, a quick ratio of 1.19 and a current ratio of 1.37.

Ibstock Company Profile

Ibstock plc manufactures and sells clay and concrete building products and solutions to customers in the residential construction sector in the United Kingdom. The company offers bricks and masonry, which includes facing and engineering bricks, brick slips, special shaped bricks, walling stone, architectural masonry, prefabricated components, eco-habitats, and padstones and lintels, as well as façade systems; roofing products comprising roof tiles and accessories, and chimneys; and flooring and lintels, such as beam and block flooring, insulated flooring, hollowcore, and screed rails.