Forterra (LON:FORT) Shares Cross Above Fifty Day Moving Average – Here’s What Happened

Forterra plc (LON:FORT) passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of GBX 135.77 and traded as high as GBX 148.20. Forterra shares last traded at GBX 147, with a volume of 808,114 shares.

Wall Street Analyst Weigh In

FORT has been the topic of a number of research analyst reports. Jefferies Financial Group reissued a “buy” rating and set a GBX 160 price objective on shares of Forterra in a report on Wednesday, July 29th. Berenberg Bank reaffirmed a “hold” rating and set a GBX 170 price target on shares of Forterra in a research report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 250 price target on shares of Forterra in a research note on Wednesday, July 29th. Finally, Royal Bank Of Canada cut their price objective on Forterra from GBX 195 to GBX 180 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of GBX 198.

Forterra Price Performance

The firm’s fifty day moving average price is GBX 136.03 and its 200 day moving average price is GBX 156.10. The firm has a market capitalization of £300.20 million, a PE ratio of 16.34, a P/E/G ratio of 0.30 and a beta of 0.73. 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 released its quarterly earnings data on Tuesday, July 28th. The company reported GBX 5.10 earnings per share for the quarter. Forterra had a net margin of 5.09% and a return on equity of 7.98%. As a group, equities analysts forecast that Forterra plc will post 11.9888346 earnings per share for the current year.

Insider Activity

In related news, insider Nigel Lingwood purchased 25,000 shares of the business’s stock in a transaction on Friday, June 12th. The shares were bought at an average cost of GBX 133 per share, with a total value of £33,250. Also, insider Neil Ash acquired 11,500 shares of Forterra stock in a transaction on Friday, June 12th. The shares were bought at an average price of GBX 133 per share, with a total value of £15,295. Insiders have acquired a total of 54,000 shares of company stock worth $7,164,500 over the last ninety days. 0.47% of the stock is owned by insiders.

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.