Forterra (LON:FORT) Stock Keeps Buy Rating at Jefferies Financial Group

Key Points

• Jefferies reiterated its Buy rating on Forterra and set a GBX 181 price target, implying 15.29% upside from the previous close.
• Analyst sentiment is broadly positive: Forterra has a “Moderate Buy” consensus and an average price target of GBX 190.25, based on three Buy ratings and one Hold.
• Forterra shares closed at GBX 157 on Thursday. Insiders have also bought 47,257 shares over the past 90 days.

Forterra (LON:FORT - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at Jefferies Financial Group in a note issued to investors on Thursday, Digital Look reports. They currently have a GBX 181 price target on the stock. Jefferies Financial Group's price objective suggests a potential upside of 15.29% from the stock's previous close.

Several other equities research analysts also recently issued reports on the stock. Deutsche Bank reiterated a "buy" rating and issued a GBX 250 target price on shares of Forterra in a research note on Wednesday, July 29th. Royal Bank Of Canada lowered their price target on Forterra from GBX 195 to GBX 180 and set an "outperform" rating on the stock in a research report on Wednesday, July 29th. Finally, Berenberg Bank restated a "hold" rating and issued a GBX 150 price objective on shares of Forterra in a research note on Wednesday. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Forterra presently has an average rating of "Moderate Buy" and an average target price of GBX 190.25.

Forterra Stock Performance

LON FORT traded down GBX 1.20 on Thursday, hitting GBX 157. 395,383 shares of the stock were exchanged, compared to its average volume of 1,649,365. The company has a debt-to-equity ratio of 43.78, a current ratio of 1.57 and a quick ratio of 0.82. The business's fifty day moving average is GBX 150.68 and its 200 day moving average is GBX 153.49. Forterra has a 52 week low of GBX 126.40 and a 52 week high of GBX 200. The company has a market capitalization of £310.76 million, a PE ratio of 17.25, a P/E/G ratio of 0.30 and a beta of 0.73.

Insider Transactions at Forterra

In related news, insider Gina Jardine purchased 13,313 shares of the firm's stock in a transaction that occurred on Tuesday, September 22nd. The shares were acquired at an average price of GBX 138 per share, for a total transaction of £18,371.94. Also, insider Gavin Hill purchased 28,944 shares of the stock in a transaction on Thursday, September 17th. The stock was bought at an average cost of GBX 138 per share, for a total transaction of £39,942.72. In the last 90 days, insiders purchased 47,257 shares of company stock worth $6,621,466. 0.50% of the stock is owned by insiders.

Forterra Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.