Forterra (LON:FORT) Price Target Raised to GBX 220 at Berenberg Bank

Key Points

• Berenberg Bank has raised its price target for Forterra from GBX 170 to GBX 220, indicating a potential upside of 13.75% from the company's previous close.
• Other analysts, including the Royal Bank of Canada and Deutsche Bank, have also set higher price targets for Forterra, reflecting a generally positive outlook for the stock with an average target price of GBX 241.83.
• Forterra has reported earnings of GBX 5.80 per share, with analysts predicting an average of 11.99 earnings per share for the current fiscal year, showcasing the company's ongoing financial performance.

Forterra (LON:FORT - Get Free Report) had its price objective hoisted by Berenberg Bank from GBX 170 to GBX 220 in a research note issued on Tuesday, Marketbeat reports. The firm currently has a "hold" rating on the stock. Berenberg Bank's target price would suggest a potential upside of 12.74% from the company's current price.

FORT has been the topic of several other research reports. Royal Bank Of Canada boosted their target price on Forterra from GBX 220 to GBX 250 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a GBX 320 target price on shares of Forterra in a report on Wednesday, July 30th. Citigroup increased their price objective on Forterra from GBX 176 to GBX 210 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Peel Hunt restated an "add" rating and set a GBX 190 price objective on shares of Forterra in a report on Tuesday, July 29th. Finally, Jefferies Financial Group upped their price target on shares of Forterra from GBX 237 to GBX 261 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Forterra has a consensus rating of "Moderate Buy" and an average price target of GBX 241.83.

Forterra Stock Up 1.8%

Shares of LON FORT traded up GBX 3.54 during mid-day trading on Tuesday, hitting GBX 195.14. The company had a trading volume of 396,538 shares, compared to its average volume of 846,077. Forterra has a 1-year low of GBX 150 and a 1-year high of GBX 215. The company has a market capitalization of £400.77 million, a PE ratio of 50.87, a price-to-earnings-growth ratio of 0.30 and a beta of 1.25. The company has a debt-to-equity ratio of 59.58, a current ratio of 1.79 and a quick ratio of 0.82. The business's 50-day simple moving average is GBX 194.77 and its 200 day simple moving average is GBX 181.23.

Forterra (LON:FORT - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported GBX 5.80 EPS for the quarter. Forterra had a return on equity of 3.76% and a net margin of 2.46%. On average, analysts predict that Forterra will post 11.9888346 earnings per share for the current year.

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.