Ibstock (LON:IBST) Shares Cross Below Fifty Day Moving Average – Here’s Why

Shares of Ibstock plc (LON:IBST) passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of GBX 134.93 and traded as low as GBX 128. Ibstock shares last traded at GBX 128, with a volume of 14,600,038 shares traded.

Analyst Upgrades and Downgrades

IBST has been the subject of a number of recent research reports. Royal Bank Of Canada reduced their target price on shares of Ibstock from GBX 210 to GBX 170 and set an “outperform” rating for the company in a research report on Wednesday, October 15th. Berenberg Bank dropped their price objective on shares of Ibstock from GBX 150 to GBX 135 and set a “hold” rating for the company in a research note on Wednesday, January 21st. Jefferies Financial Group decreased their target price on shares of Ibstock from GBX 188 to GBX 143 and set a “buy” rating on the stock in a research report on Monday, October 20th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Ibstock from GBX 210 to GBX 190 and set a “buy” rating on the stock in a report on Friday, October 10th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of GBX 159.50.

Ibstock Price Performance

The firm has a market cap of £505.96 million, a P/E ratio of 42.73, a PEG ratio of 0.47 and a beta of 1.34. The company has a debt-to-equity ratio of 46.91, a current ratio of 1.37 and a quick ratio of 1.19. The company’s 50-day moving average is GBX 134.93 and its two-hundred day moving average is GBX 137.19.

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.