Royal Bank Of Canada Lowers Ibstock (LON:IBST) Price Target to GBX 170

Ibstock (LON:IBST) had its price objective dropped by research analysts at Royal Bank Of Canada from GBX 210 to GBX 170 in a research note issued to investors on Wednesday, Marketbeat.com reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 37.10% from the stock’s previous close.

A number of other brokerages have also recently issued reports on IBST. Deutsche Bank Aktiengesellschaft dropped their price objective on Ibstock from GBX 210 to GBX 190 and set a “buy” rating on the stock in a report on Friday, October 10th. Berenberg Bank dropped their price objective on Ibstock from GBX 200 to GBX 170 and set a “hold” rating on the stock in a report on Monday, September 8th. Finally, Jefferies Financial Group decreased their target price on Ibstock from GBX 190 to GBX 188 and set a “buy” rating on the stock in a research note on Friday, August 8th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Ibstock currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 174.50.

Ibstock Stock Performance

Shares of IBST opened at GBX 124 on Wednesday. The stock’s 50-day simple moving average is GBX 137.22 and its 200 day simple moving average is GBX 157.42. The stock has a market capitalization of £489.40 million, a price-to-earnings ratio of 4,133.33, a price-to-earnings-growth ratio of 0.47 and a beta of 1.34. The company has a debt-to-equity ratio of 46.91, a quick ratio of 1.19 and a current ratio of 1.37. Ibstock has a 52-week low of GBX 113.78 and a 52-week high of GBX 212.

Ibstock (LON:IBST) last issued its quarterly earnings data on Wednesday, August 6th. The company reported GBX 3 earnings per share (EPS) for the quarter. Ibstock had a return on equity of 1.83% and a net margin of 2.01%. Research analysts forecast that Ibstock will post 11.0089552 EPS 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.