Forterra (LON:FORT) Shares Up 11% - Here's Why

Key Points

• Forterra plc shares surged 11% during mid-day trading, reaching a high of GBX 215 ($2.87), significantly increasing trading volume to over 4 million shares.
• Peel Hunt reaffirmed an "add" rating for Forterra, setting a target price of GBX 190 ($2.54) in a recent research report.
• For the current fiscal year, analysts expect Forterra to post an EPS of 11.99, following their latest earnings report of GBX 5.80 ($0.08) per share for the previous quarter.

Shares of Forterra plc (LON:FORT - Get Free Report) were up 11% during mid-day trading on Tuesday . The company traded as high as GBX 215 ($2.87) and last traded at GBX 204 ($2.73). Approximately 4,258,317 shares traded hands during trading, an increase of 385% from the average daily volume of 878,666 shares. The stock had previously closed at GBX 183.80 ($2.46).

Analyst Ratings Changes

Separately, Peel Hunt reaffirmed an "add" rating and set a GBX 190 ($2.54) target price on shares of Forterra in a research report on Tuesday.

Forterra Stock Up 11.0%

The company has a market cap of £418.98 million, a price-to-earnings ratio of 53.18, a PEG ratio of 0.30 and a beta of 1.25. 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 business has a fifty day moving average of GBX 193.94 and a two-hundred day moving average of GBX 176.43.

Forterra (LON:FORT - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported GBX 5.80 ($0.08) EPS for the quarter. Forterra had a return on equity of 3.76% and a net margin of 2.46%. As a group, equities analysts anticipate that Forterra plc 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.

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