Forterra (LON:FORT) Stock Price Passes Below 50-Day Moving Average – Here’s What Happened

Shares of Forterra plc (LON:FORT) passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of GBX 181.35 and traded as low as GBX 177.80. Forterra shares last traded at GBX 178.40, with a volume of 444,508 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in 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 for the company in a research note on Monday, October 20th. Royal Bank Of Canada cut their price objective on Forterra from GBX 250 to GBX 220 and set an “outperform” rating for the company in a report on Wednesday, October 15th. Finally, Peel Hunt reissued an “add” rating and issued a GBX 230 target price 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Forterra presently has an average rating of “Moderate Buy” and an average price target of GBX 234.67.

Forterra Stock Down 2.5%

The company’s 50 day moving average price is GBX 181.35 and its two-hundred day moving average price is GBX 186.54. The company has a current ratio of 1.79, a quick ratio of 0.82 and a debt-to-equity ratio of 59.58. The firm has a market cap of £376.27 million, a PE ratio of 24.11, a PEG ratio of 0.30 and a beta of 1.25.

Insiders Place Their Bets

In related news, insider Nigel Lingwood bought 50,000 shares of the stock in a transaction that occurred on Thursday, October 23rd. The shares were bought at an average cost of GBX 180 per share, for a total transaction of £90,000. Company insiders own 0.45% of the company’s stock.

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.