Ibstock (LON:IBST) Stock Price Crosses Below Fifty Day Moving Average – Here’s Why

Ibstock plc (LON:IBST)’s share price passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of GBX 134.34 and traded as low as GBX 127.20. Ibstock shares last traded at GBX 128.80, with a volume of 1,937,052 shares.

Analyst Ratings Changes

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

Ibstock Price Performance

The company has a debt-to-equity ratio of 46.91, a current ratio of 1.37 and a quick ratio of 1.19. The stock’s 50 day simple moving average is GBX 134.34 and its two-hundred day simple moving average is GBX 153.48. The stock has a market cap of £508.35 million, a price-to-earnings ratio of 42.93, a P/E/G ratio of 0.47 and a beta of 1.34.

Ibstock (LON:IBST) last announced its quarterly earnings data on Wednesday, August 6th. The company reported GBX 3 earnings per share (EPS) for the quarter. Ibstock had a net margin of 2.01% and a return on equity of 1.83%. On average, analysts forecast that Ibstock plc will post 11.0089552 earnings per share for the current fiscal year.

About Ibstock

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.