Ibstock (LON:IBST) Shares Down 10.4% – Here’s What Happened

Shares of Ibstock plc (LON:IBST) traded down 10.4% on Monday. The stock traded as low as GBX 68.80 and last traded at GBX 72.55. Approximately 7,144,494 shares changed hands during mid-day trading, an increase of 31% from the average daily volume of 5,434,881 shares. The stock had previously closed at GBX 81.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Berenberg Bank dropped their target price on Ibstock from GBX 90 to GBX 75 and set a “hold” rating on the stock in a research report on Tuesday. Peel Hunt reaffirmed a “buy” rating and set a GBX 125 price objective on shares of Ibstock in a report on Wednesday, August 5th. Jefferies Financial Group reiterated a “hold” rating and issued a GBX 90 target price on shares of Ibstock in a research report on Tuesday. Royal Bank Of Canada dropped their price objective on shares of Ibstock from GBX 160 to GBX 130 and set an “outperform” rating for the company in a research note on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a GBX 100 target price on shares of Ibstock in a research report on Thursday, August 6th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of GBX 104.

Ibstock Price Performance

The company has a market capitalization of £301.20 million, a PE ratio of -13.38, a P/E/G ratio of 0.47 and a beta of 0.84. The company has a debt-to-equity ratio of 54.38, a quick ratio of 1.19 and a current ratio of 1.28. The firm has a fifty day simple moving average of GBX 80.41 and a 200 day simple moving average of GBX 99.19.

Ibstock (LON:IBST) last released its quarterly earnings data on Wednesday, August 5th. The company reported GBX 0.70 earnings per share for the quarter. Ibstock had a negative net margin of 6.67% and a negative return on equity of 6.19%. Equities analysts anticipate that Ibstock plc will post 11.01 EPS for the current 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.