Forterra (LON:FORT) Shares Up 1.4% – Here’s What Happened

Forterra plc (LON:FORT)’s stock price shot up 1.4% during trading on Monday . The stock traded as high as GBX 186.80 and last traded at GBX 186. 156,581 shares were traded during trading, a decline of 81% from the average session volume of 834,678 shares. The stock had previously closed at GBX 183.40.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Berenberg Bank reissued a “hold” rating and set a GBX 220 price objective on shares of Forterra in a report on Monday, September 8th. Royal Bank Of Canada decreased their price objective on shares of Forterra from GBX 250 to GBX 220 and set an “outperform” rating for the company in a report on Wednesday, October 15th. Jefferies Financial Group lowered their target price on shares of Forterra from GBX 261 to GBX 208 and set a “buy” rating for the company in a research note on Monday, October 20th. Finally, Peel Hunt reaffirmed an “add” rating and issued a GBX 230 price target on shares of Forterra in a report on Tuesday, November 11th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of GBX 234.67.

Forterra Stock Up 1.4%

The firm has a market capitalization of £392.30 million, a P/E ratio of 25.14, a PEG ratio of 0.30 and a beta of 1.25. The firm’s fifty day moving average price is GBX 180.81 and its 200-day moving average price is GBX 187.36. The company has a debt-to-equity ratio of 59.58, a current ratio of 1.79 and a quick ratio of 0.82.

Insiders Place Their Bets

In other news, insider Nigel Lingwood bought 50,000 shares of the stock in a transaction that occurred on Thursday, October 23rd. The shares were purchased at an average cost of GBX 180 per share, with a total value of £90,000. 0.45% of the stock is owned by corporate 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.