Forterra (LON:FORT) Stock Price Crosses Below 50 Day Moving Average – Here’s Why

Shares of Forterra plc (LON:FORT) crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of GBX 181.07 and traded as low as GBX 180. Forterra shares last traded at GBX 181.60, with a volume of 255,988 shares trading hands.

Wall Street Analysts Forecast Growth

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

Forterra Price Performance

The company has a debt-to-equity ratio of 59.58, a quick ratio of 0.82 and a current ratio of 1.79. The company has a market capitalization of £383.44 million, a P/E ratio of 24.57, a P/E/G ratio of 0.30 and a beta of 1.25. The firm’s fifty day moving average is GBX 181.07 and its 200 day moving average is GBX 184.86.

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.