Forterra (LON:FORT) Given New GBX 181 Price Target at Jefferies Financial Group

Key Points

• Jefferies raised Forterra’s price target to GBX 181 from GBX 160 while maintaining a “buy” rating, implying approximately 21% upside from the prior close.
• Analyst sentiment is broadly positive: Forterra has a “Moderate Buy” consensus rating and an average price target of GBX 202.20, based on four buy ratings and one hold rating.
• Forterra reported quarterly EPS of GBX 5.10, while insiders purchased 54,000 shares worth approximately £7.16 million over the past 90 days.

Forterra (LON:FORT - Get Free Report) had its target price lifted by equities research analysts at Jefferies Financial Group from GBX 160 to GBX 181 in a research report issued on Monday,London Stock Exchange reports. The firm currently has a "buy" rating on the stock. Jefferies Financial Group's price target would suggest a potential upside of 20.99% from the company's previous close.

Several other equities research analysts have also recently commented on the stock. Berenberg Bank reiterated a "hold" rating and issued a GBX 170 price target on shares of Forterra in a research report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a GBX 250 price objective on shares of Forterra in a research report on Wednesday, July 29th. Finally, Royal Bank Of Canada lowered their price objective on shares of Forterra from GBX 195 to GBX 180 and set an "outperform" rating on the stock in a research note on Wednesday, July 29th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Forterra has a consensus rating of "Moderate Buy" and an average price target of GBX 202.20.

Forterra Stock Performance

Shares of LON FORT opened at GBX 149.60 on Monday. Forterra has a 1 year low of GBX 126.40 and a 1 year high of GBX 200. The firm has a market cap of £302.08 million, a P/E ratio of 16.44, a PEG ratio of 0.30 and a beta of 0.73. The stock has a fifty day moving average price of GBX 136.03 and a two-hundred day moving average price of GBX 155.98. The company has a debt-to-equity ratio of 43.78, a quick ratio of 0.82 and a current ratio of 1.57.

Forterra (LON:FORT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The company reported GBX 5.10 EPS for the quarter. Forterra had a return on equity of 7.98% and a net margin of 5.09%. Research analysts forecast that Forterra will post 11.9888346 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Nigel Lingwood bought 25,000 shares of Forterra stock in a transaction dated Friday, June 12th. The stock was acquired at an average cost of GBX 133 per share, with a total value of £33,250. Also, insider Neil Ash bought 17,500 shares of Forterra stock in a transaction dated Friday, June 12th. The shares were bought at an average cost of GBX 132 per share, with a total value of £23,100. Insiders purchased a total of 54,000 shares of company stock worth $7,164,500 over the last 90 days. Insiders own 0.47% 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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