Forterra (LON:FORT) Price Target Lowered to GBX 220 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has lowered Forterra's price target from GBX 250 to GBX 220, while maintaining an "outperform" rating, indicating a potential upside of 24.43%.
• Forterra's stock decreased 2.0%, trading at GBX 176.80, with a reported market cap of £372.90 million.
• Despite the target price reduction, analysts maintain a generally positive outlook, with four "buy" ratings and an average target price of GBX 236.83.

Forterra (LON:FORT - Get Free Report) had its price objective dropped by stock analysts at Royal Bank Of Canada from GBX 250 to GBX 220 in a note issued to investors on Wednesday,Digital Look reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's target price would suggest a potential upside of 24.43% from the stock's previous close.

A number of other equities analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a GBX 320 price objective on shares of Forterra in a research report on Wednesday, July 30th. Peel Hunt restated an "add" rating and issued a GBX 190 price objective on shares of Forterra in a report on Tuesday, July 29th. Citigroup boosted their target price on shares of Forterra from GBX 176 to GBX 210 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Berenberg Bank restated a "hold" rating and issued a GBX 220 price target on shares of Forterra in a research note on Monday, September 8th. Finally, Jefferies Financial Group upped their price objective on Forterra from GBX 237 to GBX 261 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of GBX 236.83.

Forterra Stock Down 2.0%

FORT traded down GBX 3.60 during trading hours on Wednesday, hitting GBX 176.80. 869,462 shares of the company's stock were exchanged, compared to its average volume of 863,207. The firm has a market cap of £372.90 million, a P/E ratio of 2,389.19, a price-to-earnings-growth ratio of 0.30 and a beta of 1.25. Forterra has a 12-month low of GBX 150 and a 12-month high of GBX 215. The company has a current ratio of 1.79, a quick ratio of 0.82 and a debt-to-equity ratio of 59.58. The firm has a 50 day moving average of GBX 189.54 and a 200 day moving average of GBX 188.62.

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

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.