Forterra (LON:FORT) Stock Jumps 18.2% on Insider Buying Activity

Forterra plc (LON:FORT)’s stock price traded up 18.2% on Monday following insider buying activity. The stock traded as high as GBX 163.80 and last traded at GBX 162. 2,368,320 shares traded hands during trading, an increase of 63% from the average daily volume of 1,452,189 shares. The stock had previously closed at GBX 137.

Specifically, insider Aysegul Sabanci acquired 5,000 shares of the business’s stock in a transaction on Monday, September 28th. The shares were purchased at an average cost of GBX 158 per share, with a total value of £7,900. Also, insider Gina Jardine bought 13,313 shares of Forterra stock in a transaction dated Tuesday, September 22nd. The stock was purchased at an average price of GBX 138 per share, with a total value of £18,371.94. In other news, insider Gavin Hill purchased 28,944 shares of the company’s stock in a transaction that occurred on Thursday, September 17th. The shares were bought at an average cost of GBX 138 per share, with a total value of £39,942.72.

Analyst Upgrades and Downgrades

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

Forterra Price Performance

The firm has a market cap of £325.83 million, a PE ratio of 17.80, a P/E/G ratio of 0.30 and a beta of 0.73. The company has a debt-to-equity ratio of 43.78, a current ratio of 1.57 and a quick ratio of 0.82. The business’s fifty day moving average is GBX 141.12 and its 200-day moving average is GBX 145.70.

Forterra (LON:FORT) last released its earnings results on Tuesday, July 28th. The company reported GBX 5.10 earnings per share for the quarter. Forterra had a net margin of 5.09% and a return on equity of 7.98%. On average, research analysts predict that Forterra plc will post 11.9888346 earnings per share for the current fiscal year.

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.