Forterra (LON:FORT) Shares Cross Below 50 Day Moving Average – Time to Sell?

Forterra plc (LON:FORT) shares crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of GBX 140.50 and traded as low as GBX 135.60. Forterra shares last traded at GBX 137, with a volume of 9,035,884 shares.

Analyst Ratings Changes

FORT has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 250 price objective on shares of Forterra in a research report on Wednesday, July 29th. Berenberg Bank reissued a “hold” rating and set a GBX 170 price target on shares of Forterra in a research note on Wednesday, July 29th. Royal Bank Of Canada cut their price objective on shares of Forterra from GBX 195 to GBX 180 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. Finally, Jefferies Financial Group raised their price objective on shares of Forterra from GBX 160 to GBX 181 and gave the company a “buy” rating in a research note on Monday, August 10th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of GBX 202.20.

Forterra Trading Up 0.7%

The company has a quick ratio of 0.82, a current ratio of 1.57 and a debt-to-equity ratio of 43.78. The business has a fifty day moving average price of GBX 140.50 and a 200 day moving average price of GBX 149.10. The company has a market capitalization of £275.55 million, a P/E ratio of 15.05, a price-to-earnings-growth ratio of 0.30 and a beta of 0.73.

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

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.