Forterra (LON:FORT) Shares Cross Below 200 Day Moving Average – What’s Next?

Forterra plc (LON:FORT)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 164.01 and traded as low as GBX 137.60. Forterra shares last traded at GBX 138.40, with a volume of 193,921 shares traded.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on FORT shares. Jefferies Financial Group reissued a “buy” rating and issued a GBX 204 price objective on shares of Forterra in a research note on Wednesday, May 20th. Royal Bank Of Canada lowered their target price on Forterra from GBX 220 to GBX 195 and set an “outperform” rating for the company in a report on Wednesday, May 20th. Berenberg Bank dropped their price target on Forterra from GBX 220 to GBX 170 and set a “hold” rating on the stock in a research note on Wednesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Forterra from GBX 320 to GBX 250 and set a “buy” rating on the stock in a report on Wednesday, May 20th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Forterra presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 209.83.

Forterra Trading Up 1.0%

The firm’s 50 day simple moving average is GBX 142.04 and its two-hundred day simple moving average is GBX 164.01. The stock has a market capitalization of £285.74 million, a P/E ratio of 17.30, a P/E/G ratio of 0.30 and a beta of 0.73. The company has a quick ratio of 0.82, a current ratio of 1.46 and a debt-to-equity ratio of 34.75.

Insider Buying and Selling at Forterra

In other Forterra news, insider Neil Ash acquired 11,500 shares of the company’s stock in a transaction on Friday, June 12th. The shares were purchased at an average cost of GBX 133 per share, with a total value of £15,295. Also, insider Nigel Lingwood acquired 25,000 shares of the stock in a transaction dated Friday, June 12th. The stock was bought at an average cost of GBX 133 per share, with a total value of £33,250. In the last three months, insiders purchased 54,000 shares of company stock valued at $7,164,500. 0.45% of the stock is currently owned by 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.