Forterra (LON:FORT) Shares Up 11% on Analyst Upgrade

Forterra plc (LON:FORT)’s stock price traded up 11% on Wednesday after Citigroup raised their price target on the stock from GBX 176 to GBX 210. Citigroup currently has a neutral rating on the stock. Forterra traded as high as GBX 215 ($2.85) and last traded at GBX 204 ($2.70). 4,258,317 shares traded hands during mid-day trading, an increase of 385% from the average session volume of 878,666 shares. The stock had previously closed at GBX 183.80 ($2.44).

FORT has been the topic of a number of other research reports. Peel Hunt reaffirmed an “add” rating and set a GBX 190 ($2.52) price target on shares of Forterra in a research note on Tuesday. Royal Bank Of Canada increased their price target on shares of Forterra from GBX 220 ($2.92) to GBX 250 ($3.31) and gave the stock an “outperform” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 228 ($3.02).

Forterra Stock Down 0.7%

The firm’s 50-day moving average price is GBX 194.18 and its 200-day moving average price is GBX 176.77. The company has a market cap of £416.06 million, a price-to-earnings ratio of 52.81, a price-to-earnings-growth ratio of 0.30 and a beta of 1.25. The company has a debt-to-equity ratio of 59.58, a current ratio of 1.79 and a quick ratio of 0.82.

Forterra (LON:FORT) last released its quarterly earnings data on Tuesday, July 29th. The company reported GBX 5.80 ($0.08) earnings per share (EPS) for the quarter. Forterra had a net margin of 2.46% and a return on equity of 3.76%. Sell-side analysts forecast that Forterra plc will post 11.9888346 earnings per share for the current fiscal year.

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.