Peel Hunt Reaffirms Add Rating for Forterra (LON:FORT)

Forterra (LON:FORT)‘s stock had its “add” rating reiterated by research analysts at Peel Hunt in a research note issued on Tuesday, MarketBeat Ratings reports. They presently have a GBX 230 price objective on the stock. Peel Hunt’s price objective suggests a potential upside of 24.75% from the company’s previous close.

Several other research analysts also recently weighed in on the company. Berenberg Bank restated a “hold” rating and set a GBX 220 target price on shares of Forterra in a research note on Monday, September 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 320 price target on shares of Forterra in a research report on Wednesday, July 30th. Citigroup boosted their price target on Forterra from GBX 176 to GBX 210 and gave the company a “neutral” rating in a research note on Wednesday, July 30th. Royal Bank Of Canada cut their price objective on Forterra from GBX 250 to GBX 220 and set an “outperform” rating on the stock in a report on Wednesday, October 15th. Finally, Jefferies Financial Group decreased their target price on Forterra from GBX 261 to GBX 208 and set a “buy” rating for the company in a report on Monday, October 20th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 234.67.

Forterra Price Performance

FORT opened at GBX 184.37 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 1.79 and a debt-to-equity ratio of 59.58. The stock has a market cap of £388.85 million, a P/E ratio of 24.91, a PEG ratio of 0.30 and a beta of 1.25. The business has a fifty day moving average of GBX 183.77 and a 200 day moving average of GBX 190.01. Forterra has a 52-week low of GBX 150 and a 52-week high of GBX 215.

Insider Activity

In other Forterra news, insider Nigel Lingwood purchased 50,000 shares of the business’s stock in a transaction that occurred on Thursday, October 23rd. The stock was purchased at an average price of GBX 180 per share, for a total transaction of £90,000. 0.45% of the stock is currently 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.