Forterra (LON:FORT) Stock Passes Below Fifty Day Moving Average - Here's What Happened

Key Points

• Forterra shares fell below their 50-day moving average, trading as low as GBX 134.80 and last changing hands at GBX 135.20, with heavy volume of 965,039 shares.
• Analysts remain generally positive but have lowered price targets: Forterra now carries a “Moderate Buy” consensus, though several firms cut their targets, bringing the average target price to GBX 209.83.
• Insiders bought shares recently, including Neil Ash and Nigel Lingwood, who each purchased stock at GBX 133, signaling some internal confidence despite the stock’s recent weakness.

Forterra plc (LON:FORT - Get Free Report)'s share price passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of GBX 137.27 and traded as low as GBX 134.80. Forterra shares last traded at GBX 135.20, with a volume of 965,039 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on FORT shares. Royal Bank Of Canada cut their price objective on Forterra from GBX 220 to GBX 195 and set an "outperform" rating for the company in a report on Wednesday, May 20th. Berenberg Bank lowered their target price on shares of Forterra from GBX 220 to GBX 170 and set a "hold" rating on the stock in a report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Forterra from GBX 320 to GBX 250 and set a "buy" rating on the stock in a research report on Wednesday, May 20th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a GBX 204 price target on shares of Forterra in a research note on Wednesday, May 20th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Forterra presently has an average rating of "Moderate Buy" and an average target price of GBX 209.83.

Forterra Stock Down 2.5%

The company has a current ratio of 1.46, a quick ratio of 0.82 and a debt-to-equity ratio of 34.75. The stock has a market cap of £277.29 million, a P/E ratio of 16.90, a PEG ratio of 0.30 and a beta of 0.73. The firm has a 50-day simple moving average of GBX 137.27 and a two-hundred day simple moving average of GBX 160.68.

Insider Activity

In other Forterra news, insider Neil Ash acquired 11,500 shares of the business's stock in a transaction on Friday, June 12th. The stock was purchased at an average price of GBX 133 per share, with a total value of £15,295. Also, insider Nigel Lingwood bought 25,000 shares of the firm's stock in a transaction on Friday, June 12th. The shares were acquired at an average price of GBX 133 per share, for a total transaction of £33,250. Insiders acquired a total of 54,000 shares of company stock valued at $7,164,500 in the last quarter. Corporate insiders own 0.46% of the company's stock.

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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