Ibstock (LON:IBST) Trading Down 7.2% – Here’s What Happened

Ibstock plc (LON:IBST) fell 7.2% during trading on Friday . The company traded as low as GBX 113.78 ($1.52) and last traded at GBX 124.10 ($1.66). 18,111,258 shares were traded during mid-day trading, an increase of 727% from the average session volume of 2,189,371 shares. The stock had previously closed at GBX 133.80 ($1.79).

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on IBST. Berenberg Bank reduced their target price on shares of Ibstock from GBX 200 to GBX 170 and set a “hold” rating for the company in a research report on Monday, September 8th. Jefferies Financial Group cut their price objective on shares of Ibstock from GBX 190 to GBX 188 and set a “buy” rating for the company in a report on Friday, August 8th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Ibstock from GBX 220 to GBX 210 and set a “buy” rating for the company in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of GBX 189.33.

Ibstock Price Performance

The stock’s fifty day moving average price is GBX 138.97 and its 200-day moving average price is GBX 158.60. The firm has a market cap of £506.77 million, a price-to-earnings ratio of 4,280.00, a P/E/G ratio of 0.47 and a beta of 1.34. The company has a current ratio of 1.37, a quick ratio of 1.19 and a debt-to-equity ratio of 46.91.

Ibstock (LON:IBST) last announced its quarterly earnings results on Wednesday, August 6th. The company reported GBX 3 earnings per share (EPS) for the quarter. Ibstock had a net margin of 2.01% and a return on equity of 1.83%. As a group, equities research analysts forecast that Ibstock plc will post 11.0089552 earnings per share for the current fiscal year.

Ibstock Company Profile

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.