Ibstock (LON:IBST) Stock Passes Below 50 Day Moving Average – Here’s What Happened

Ibstock plc (LON:IBST) shares passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of GBX 92.35 and traded as low as GBX 84.60. Ibstock shares last traded at GBX 85.90, with a volume of 55,430,590 shares trading hands.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Peel Hunt reaffirmed a “buy” rating and issued a GBX 125 target price on shares of Ibstock in a report on Wednesday, August 5th. Jefferies Financial Group decreased their price target on Ibstock from GBX 115 to GBX 90 and set a “hold” rating on the stock in a report on Monday, August 10th. Royal Bank Of Canada lowered their price objective on Ibstock from GBX 160 to GBX 130 and set an “outperform” rating on the stock in a research report on Thursday, July 30th. Berenberg Bank dropped their price objective on Ibstock from GBX 135 to GBX 120 and set a “hold” rating for the company in a research note on Friday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a GBX 100 target price on shares of Ibstock in a research report on Thursday, August 6th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Ibstock currently has an average rating of “Hold” and an average price target of GBX 113.

Ibstock Trading Up 1.1%

The firm has a market cap of £348.77 million, a P/E ratio of 110.37, a P/E/G ratio of 0.47 and a beta of 0.85. The stock has a 50 day simple moving average of GBX 92.21 and a 200-day simple moving average of GBX 102.47. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 54.38.

Ibstock (LON:IBST) last posted its earnings results on Wednesday, August 5th. The company reported GBX 0.70 EPS for the quarter. Ibstock had a negative return on equity of 6.19% and a negative net margin of 6.67%. On average, equities research analysts expect that Ibstock plc will post 11.0089552 EPS 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.