Ibstock (LON:IBST) Stock Passes Below 50-Day Moving Average – What’s Next?

Ibstock plc (LON:IBST) passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of GBX 132.69 and traded as low as GBX 130. Ibstock shares last traded at GBX 134.60, with a volume of 829,746 shares changing hands.

Analysts Set New Price Targets

IBST has been the subject of several recent analyst reports. Jefferies Financial Group dropped their price objective on shares of Ibstock from GBX 188 to GBX 143 and set a “buy” rating for the company in a research note on Monday, October 20th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Ibstock from GBX 210 to GBX 190 and set a “buy” rating for the company in a research note on Friday, October 10th. Royal Bank Of Canada cut their price target on shares of Ibstock from GBX 210 to GBX 170 and set an “outperform” rating on the stock in a report on Wednesday, October 15th. Finally, Berenberg Bank decreased their price objective on shares of Ibstock from GBX 170 to GBX 150 and set a “hold” rating for the company in a research note on Wednesday, October 15th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of GBX 163.25.

Ibstock Price Performance

The company has a current ratio of 1.37, a quick ratio of 1.19 and a debt-to-equity ratio of 46.91. The firm’s 50-day moving average price is GBX 132.69 and its two-hundred day moving average price is GBX 146.67. The stock has a market cap of £525.71 million, a PE ratio of 44.40, a PEG ratio of 0.47 and a beta of 1.34.

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.