Ibstock (LON:IBST) Shares Down 5.5% on Analyst Downgrade

Ibstock plc (LON:IBST)’s share price dropped 5.5% on Monday after Jefferies Financial Group lowered their price target on the stock from GBX 133 to GBX 127. Jefferies Financial Group currently has a buy rating on the stock. Ibstock traded as low as GBX 106.80 and last traded at GBX 107.30. Approximately 462,644 shares were traded during trading, a decline of 93% from the average daily volume of 6,659,554 shares. The stock had previously closed at GBX 113.60.

IBST has been the topic of a number of other research reports. Berenberg Bank cut their price target on shares of Ibstock from GBX 150 to GBX 135 and set a “hold” rating on the stock in a report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft cut their price target on shares of Ibstock from GBX 144 to GBX 110 and set a “hold” rating on the stock in a report on Tuesday, March 24th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of GBX 135.50.

Insider Transactions at Ibstock

In related news, insider Martin Payne bought 20,000 shares of the business’s stock in a transaction dated Friday, April 17th. The shares were purchased at an average price of GBX 108 per share, with a total value of £21,600. Also, insider Joe Hudson sold 15,632 shares of Ibstock stock in a transaction dated Monday, April 20th. The shares were sold at an average price of GBX 107, for a total transaction of £16,726.24. Insiders own 2.26% of the company’s stock.

Ibstock Price Performance

The business’s 50 day moving average price is GBX 113.88 and its two-hundred day moving average price is GBX 126.47. The stock has a market cap of £427.36 million, a P/E ratio of 135.28, a price-to-earnings-growth ratio of 0.47 and a beta of 0.88. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 44.59.

Ibstock (LON:IBST) last announced its earnings results on Thursday, March 5th. The company reported GBX 5.70 earnings per share for the quarter. Ibstock had a net margin of 0.83% and a return on equity of 0.79%. As a group, sell-side analysts expect that Ibstock plc will post 11.0089552 earnings per share 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.