Forterra (LON:FORT) Stock Price Down 2% Following Analyst Downgrade

Key Points

• Forterra's stock price fell by 2% after Royal Bank of Canada downgraded its price target from GBX 250 to GBX 220, maintaining an outperform rating.
• The average target price for Forterra is now GBX 236.83, with four analysts rating the stock a Buy and two a Hold.
• The company reported earnings of GBX 5.80 per share for the last quarter with an anticipated EPS of approximately 12.0 for the current year.

Forterra plc (LON:FORT - Get Free Report)'s stock price dropped 2% on Wednesday after Royal Bank Of Canada lowered their price target on the stock from GBX 250 to GBX 220. Royal Bank Of Canada currently has an outperform rating on the stock. Forterra traded as low as GBX 176 ($2.36) and last traded at GBX 176.80 ($2.37). Approximately 869,462 shares changed hands during mid-day trading, an increase of 1% from the average daily volume of 863,207 shares. The stock had previously closed at GBX 180.40 ($2.42).

Several other equities research analysts have also recently commented on the company. Jefferies Financial Group raised their target price on Forterra from GBX 237 to GBX 261 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a GBX 320 price target on shares of Forterra in a report on Wednesday, July 30th. Citigroup boosted their target price on Forterra from GBX 176 to GBX 210 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Peel Hunt reiterated an "add" rating and set a GBX 190 price objective on shares of Forterra in a research note on Tuesday, July 29th. Finally, Berenberg Bank restated a "hold" rating and issued a GBX 220 target price on shares of Forterra in a research note on Monday, September 8th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of GBX 236.83.

Forterra Stock Down 2.0%

The company has a fifty day simple moving average of GBX 189.17 and a 200-day simple moving average of GBX 188.65. The company has a quick ratio of 0.82, a current ratio of 1.79 and a debt-to-equity ratio of 59.58. The firm has a market cap of £372.90 million, a P/E ratio of 2,389.19, a price-to-earnings-growth ratio of 0.30 and a beta of 1.25.

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