Forterra (LON:FORT) Stock Passes Below Fifty Day Moving Average – Here’s What Happened

Shares of Forterra plc (LON:FORT) crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of GBX 137.27 and traded as low as GBX 134.80. Forterra shares last traded at GBX 135.20, with a volume of 965,039 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Berenberg Bank reduced their price objective on shares of Forterra from GBX 220 to GBX 170 and set a “hold” rating on the stock in a research note on Wednesday, May 20th. Royal Bank Of Canada dropped their target price on shares of Forterra from GBX 220 to GBX 195 and set an “outperform” rating for the company in a research report on Wednesday, May 20th. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 204 price target on shares of Forterra in a report on Wednesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Forterra from GBX 320 to GBX 250 and set a “buy” rating on the stock in a research report on Wednesday, May 20th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Forterra presently has a consensus rating of “Moderate Buy” and an average price target of GBX 209.83.

Forterra Trading Down 2.5%

The firm has a 50-day moving average of GBX 137.27 and a two-hundred day moving average of GBX 160.68. The firm has a market capitalization of £277.29 million, a P/E ratio of 16.90, a P/E/G ratio of 0.30 and a beta of 0.73. The company has a current ratio of 1.46, a quick ratio of 0.82 and a debt-to-equity ratio of 34.75.

Insider Activity

In related news, insider Nigel Lingwood purchased 25,000 shares of Forterra stock in a transaction dated Friday, June 12th. The shares were bought at an average cost of GBX 133 per share, for a total transaction of £33,250. Also, insider Neil Ash purchased 17,500 shares of Forterra stock in a transaction dated Friday, June 12th. The stock was bought at an average price of GBX 132 per share, for a total transaction of £23,100. In the last three months, insiders have acquired 54,000 shares of company stock valued at $7,164,500. Insiders own 0.46% of the company’s stock.

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.