Forterra (LON:FORT) Share Price Passes Above Fifty Day Moving Average - Here's Why

Key Points

• Forterra shares rose above their 50-day moving average, reaching GBX 148.20 before last trading at GBX 147 on volume of 808,114 shares.
• Analysts remain broadly positive, with four Buy ratings and one Hold rating; the consensus is “Moderate Buy” with an average price target of GBX 198, despite some target reductions.
• Recent quarterly earnings were GBX 5.10 per share, while insiders purchased a combined 54,000 shares over the past 90 days, signaling confidence from company executives.

Forterra plc (LON:FORT - Get Free Report)'s stock price passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of GBX 135.77 and traded as high as GBX 148.20. Forterra shares last traded at GBX 147, with a volume of 808,114 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FORT. Jefferies Financial Group reaffirmed a "buy" rating and set a GBX 160 target price on shares of Forterra in a research note on Wednesday, July 29th. Royal Bank Of Canada reduced their price target on shares of Forterra from GBX 195 to GBX 180 and set an "outperform" rating on the stock in a research report on Wednesday, July 29th. Berenberg Bank reaffirmed a "hold" rating and issued a GBX 170 price target on shares of Forterra in a research note on Wednesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a GBX 250 price objective on shares of Forterra in a report on Wednesday, July 29th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of GBX 198.

Forterra Stock Performance

The firm has a fifty day simple moving average of GBX 135.77 and a 200-day simple moving average of GBX 156.38. The company has a market cap of £302.72 million, a PE ratio of 18.45, a price-to-earnings-growth ratio of 0.30 and a beta of 0.73. The company has a quick ratio of 0.82, a current ratio of 1.57 and a debt-to-equity ratio of 43.78.

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 net margin of 5.09% and a return on equity of 7.98%. On average, research analysts forecast that Forterra plc will post 11.9888346 EPS for the current fiscal year.

Insider Buying and Selling at Forterra

In other news, insider Nigel Lingwood acquired 25,000 shares of Forterra stock in a transaction that occurred on Friday, June 12th. The shares were acquired at an average price of GBX 133 per share, with a total value of £33,250. Also, insider Neil Ash purchased 17,500 shares of the firm's stock in a transaction on Friday, June 12th. The stock was acquired at an average cost of GBX 132 per share, for a total transaction of £23,100. Insiders have bought a total of 54,000 shares of company stock valued at $7,164,500 in the last ninety days. Corporate 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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