Berenberg Bank Reaffirms "Hold" Rating for Forterra (LON:FORT)

Key Points

• Berenberg Bank reaffirmed its “Hold” rating on Forterra, with a GBX 170 price target implying approximately 23% upside from the stock’s GBX 138.20 price.
• Analyst sentiment remains broadly positive: Forterra has four Buy ratings and two Hold ratings, resulting in a consensus “Moderate Buy” rating and an average target price of GBX 207.33.
• Forterra reported quarterly earnings of GBX 4.10 per share, while insiders purchased 54,000 shares over the past 90 days, signaling some internal confidence in the company.

Forterra (LON:FORT - Get Free Report)'s stock had its "hold" rating reissued by research analysts at Berenberg Bank in a research report issued on Wednesday,Digital Look reports. They currently have a GBX 170 price objective on the stock. Berenberg Bank's price objective would indicate a potential upside of 23.01% from the stock's current price.

FORT has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Forterra from GBX 320 to GBX 250 and set a "buy" rating on the stock in a report on Wednesday, May 20th. Jefferies Financial Group reaffirmed a "buy" rating and set a GBX 204 target price on shares of Forterra in a research note on Wednesday, May 20th. Finally, Royal Bank Of Canada reduced their price target on shares of Forterra from GBX 220 to GBX 195 and set an "outperform" rating on the stock in a report on Wednesday, May 20th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Forterra currently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 207.33.

Forterra Stock Up 0.1%

Shares of FORT opened at GBX 138.20 on Wednesday. The business's 50 day moving average is GBX 135.32 and its 200 day moving average is GBX 158.02. The company has a market capitalization of £283.44 million, a PE ratio of 17.27, a price-to-earnings-growth ratio of 0.30 and a beta of 0.73. Forterra has a 12-month low of GBX 126.40 and a 12-month high of GBX 210. The company has a current ratio of 1.46, a quick ratio of 0.82 and a debt-to-equity ratio of 34.75.

Forterra (LON:FORT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported GBX 4.10 earnings per share for the quarter. Forterra had a return on equity of 7.33% and a net margin of 4.40%. Research analysts expect that Forterra will post 11.9888346 earnings per share for the current fiscal year.

Insider Activity at Forterra

In other news, insider Neil Ash bought 11,500 shares of the stock in a transaction dated Friday, June 12th. The stock was purchased at an average cost of GBX 133 per share, for a total transaction of £15,295. Also, insider Nigel Lingwood bought 25,000 shares of the business's stock in a transaction that occurred on Friday, June 12th. The stock was acquired at an average cost of GBX 133 per share, with a total value of £33,250. Insiders have bought a total of 54,000 shares of company stock worth $7,164,500 over the last ninety days. 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.

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