Forterra (LON:FORT) Stock Crosses Below Fifty Day Moving Average – What’s Next?

Forterra plc (LON:FORT) shares crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of GBX 140.28 and traded as low as GBX 135. Forterra shares last traded at GBX 139.53, with a volume of 317,173 shares.

Analyst Upgrades and Downgrades

FORT has been the subject of a number of recent research reports. Royal Bank Of Canada dropped their target price on Forterra from GBX 195 to GBX 180 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 250 price target on shares of Forterra in a research note on Wednesday, July 29th. Berenberg Bank reiterated a “hold” rating and issued a GBX 170 price target on shares of Forterra in a research report on Wednesday, July 29th. Finally, Jefferies Financial Group upped their price target on Forterra from GBX 160 to GBX 181 and gave the company a “buy” rating in a research report on Monday, August 10th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of GBX 202.20.

Forterra Price Performance

The stock has a fifty day moving average of GBX 140.36 and a 200-day moving average of GBX 151.04. The firm has a market capitalization of £287.28 million, a P/E ratio of 15.63, a PEG ratio of 0.30 and a beta of 0.73. The company has a quick ratio of 0.82, a current ratio of 1.57 and a debt-to-equity ratio of 43.78.

Forterra (LON:FORT) last issued its quarterly earnings data on Tuesday, July 28th. The company reported GBX 5.10 EPS for the quarter. Forterra had a net margin of 5.09% and a return on equity of 7.98%. Equities analysts predict that Forterra plc will post 11.9888346 EPS for the current fiscal year.

Insider Activity at Forterra

In other news, insider Nigel Lingwood acquired 25,000 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were purchased at an average cost of GBX 133 per share, for a total transaction of £33,250. Also, insider Neil Ash acquired 11,500 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was purchased at an average price of GBX 133 per share, for a total transaction of £15,295. Insiders have bought 54,000 shares of company stock worth $7,164,500 over the last three months. 0.47% of the stock is owned by insiders.

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.