Forterra (LON:FORT) Shares Up 11% - What's Next?

Key Points

• Forterra plc shares surged by 11% to a trading price of GBX 204 ($2.72), with a significant increase in trading volume.
• Analysts from Peel Hunt have reissued an "add" rating and set a target price of GBX 190 ($2.54) for the stock.
• The company's most recent quarterly earnings report revealed earnings per share of GBX 5.80 ($0.08) and an expected EPS of approximately 12 for the current fiscal year.

Forterra plc (LON:FORT - Get Free Report) shares shot up 11% during mid-day trading on Tuesday . The company traded as high as GBX 215 ($2.87) and last traded at GBX 204 ($2.72). 4,258,317 shares were traded during trading, an increase of 385% from the average session volume of 878,666 shares. The stock had previously closed at GBX 183.80 ($2.45).

Analyst Upgrades and Downgrades

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

Forterra Price Performance

The stock's 50 day simple moving average is GBX 193.94 and its 200-day simple moving average is GBX 176.43. The stock has a market capitalization 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 debt-to-equity ratio of 59.58, a current ratio of 1.79 and a quick ratio of 0.82.

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

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.