Forterra (LON:FORT) Shares Up 11% Following Analyst Upgrade

Key Points

• Forterra plc shares increased by 11% following an analyst upgrade by Citigroup, which raised its price target from GBX 176 to GBX 210 while maintaining a neutral rating.
• Multiple analysts have reiterated positive outlooks on Forterra, with Royal Bank of Canada lifting its target price significantly from GBX 220 to GBX 250 and giving it an "outperform" rating.
• Forterra's recent earnings report indicated an EPS of GBX 5.80, and analysts anticipate a future EPS of approximately 11.99 for the current fiscal year.

Forterra plc (LON:FORT - Get Free Report)'s stock price rose 11% during mid-day 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). Approximately 4,258,317 shares were traded during mid-day trading, an increase of 385% from the average daily volume of 878,666 shares. The stock had previously closed at GBX 183.80 ($2.44).

FORT has been the topic of a number of other reports. 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 research note on Wednesday. Peel Hunt restated an "add" rating and issued a GBX 190 ($2.52) price objective on shares of Forterra in a report on Tuesday, July 29th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's 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 Trading Down 1.9%

The company has a market capitalization of £405.83 million, a PE ratio of 51.51, a P/E/G ratio of 0.30 and a beta of 1.25. The company has a debt-to-equity ratio of 59.58, a quick ratio of 0.82 and a current ratio of 1.79. The business has a fifty day moving average price of GBX 194.87 and a 200 day moving average price of GBX 177.55.

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