Forterra (LON:FORT) Trading 11% Higher Following Analyst Upgrade

Key Points

• Forterra's stock surged 11% following an upgrade from Citigroup, which raised its price target from GBX 176 to GBX 210 while maintaining a neutral rating.
• Royal Bank of Canada also increased its target price to GBX 250 with an "outperform" rating, highlighting a positive outlook among analysts.
• The company reported a net margin of 2.46% and a return on equity of 3.76%, with expectations for an EPS of approximately 11.99 for the current fiscal year.

Forterra plc (LON:FORT - Get Free Report)'s share price traded up 11% during trading on Wednesday after Citigroup raised their price target on the stock from GBX 176 to GBX 210. Citigroup currently has a neutral rating on the stock. Forterra traded as high as GBX 215 ($2.85) and last traded at GBX 204 ($2.71). 4,258,317 shares were traded during mid-day trading, an increase of 385% from the average session volume of 878,666 shares. The stock had previously closed at GBX 183.80 ($2.44).

Other analysts also recently issued research reports about the company. Royal Bank Of Canada raised their price target on Forterra from GBX 220 ($2.92) to GBX 250 ($3.32) and gave the stock an "outperform" rating in a report on Wednesday. Peel Hunt reaffirmed an "add" rating and set a GBX 190 ($2.52) target price on shares of Forterra in a research note on Tuesday, July 29th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Forterra has an average rating of "Moderate Buy" and a consensus target price of GBX 228 ($3.03).

Forterra Stock Performance

The stock's 50 day simple moving average is GBX 194.87 and its two-hundred day simple moving average is GBX 177.55. The company has a debt-to-equity ratio of 59.58, a current ratio of 1.79 and a quick ratio of 0.82. The company has a market capitalization of £405.83 million, a P/E ratio of 51.51, a P/E/G ratio of 0.30 and a beta of 1.25.

Forterra (LON:FORT - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported GBX 5.80 ($0.08) EPS for the quarter. Forterra had a net margin of 2.46% and a return on equity of 3.76%. As a group, research analysts expect that Forterra plc will post 11.9888346 earnings per share for the current year.

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.