Forterra (LON:FORT) Trading 11.3% Higher - Time to Buy?

Key Points

• Forterra plc shares increased by 11.3% on Tuesday, trading at GBX 204.50 ($2.73) after a significant rise in trading volume.
• Analysts at Peel Hunt maintain an "add" rating for Forterra with a target price of GBX 190 ($2.54).
• The company's latest earnings report indicated an earnings per share of GBX 5.80 ($0.08) with a net margin of 2.46%.

Forterra plc (LON:FORT - Get Free Report)'s share price shot up 11.3% during trading on Tuesday . The company traded as high as GBX 215 ($2.84) and last traded at GBX 204.50 ($2.70). 6,668,754 shares were traded during mid-day trading, an increase of 645% from the average session volume of 895,290 shares. The stock had previously closed at GBX 183.80 ($2.43).

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FORT. Royal Bank Of Canada raised their target price on Forterra from GBX 220 ($2.91) to GBX 250 ($3.30) and gave the stock an "outperform" rating in a report on Wednesday. Citigroup raised their target price on Forterra from GBX 176 ($2.32) to GBX 210 ($2.77) and gave the stock a "neutral" rating in a report on Wednesday. Peel Hunt reiterated an "add" rating and issued a GBX 190 ($2.51) price target on shares of Forterra in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a GBX 320 ($4.23) price target on shares of Forterra in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 228 ($3.01).

Forterra Trading Down 1.1%

The stock has a market cap of £409.12 million, a PE ratio of 51.93, a price-to-earnings-growth ratio of 0.30 and a beta of 1.25. The stock has a 50-day moving average price of GBX 194.71 and a two-hundred day moving average price of GBX 177.42. 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%. Sell-side analysts forecast that Forterra plc will post 11.9888346 earnings per share 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.