Analysts Set Forterra plc (LON:FORT) Target Price at GBX 234.67

Forterra plc (LON:FORT) has been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is GBX 234.67.

A number of research firms have recently weighed in on FORT. Peel Hunt reissued an “add” rating and issued a GBX 230 target price on shares of Forterra in a research note on Tuesday, November 11th. 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 report on Wednesday, October 15th. Berenberg Bank restated a “hold” rating and issued a GBX 220 target price on shares of Forterra in a report on Monday, September 8th. Finally, 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 note on Monday, October 20th.

Forterra Stock Performance

Forterra stock opened at GBX 185.20 on Friday. The firm has a fifty day simple moving average of GBX 181.27 and a two-hundred day simple moving average of GBX 187.15. The company has a quick ratio of 0.82, a current ratio of 1.79 and a debt-to-equity ratio of 59.58. Forterra has a twelve month low of GBX 150 and a twelve month high of GBX 215. The company has a market capitalization of £390.61 million, a PE ratio of 25.03, a P/E/G ratio of 0.30 and a beta of 1.25.

Insider Activity

In other news, insider Nigel Lingwood bought 50,000 shares of the company’s stock in a transaction dated Thursday, October 23rd. The stock was bought at an average cost of GBX 180 per share, for a total transaction of £90,000. Insiders own 0.45% of the company’s stock.

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.