Forterra (LON:FORT) Trading Up 11% - Here's Why

Key Points

• Forterra plc shares increased by 11% during mid-day trading, reaching a high of GBX 215 ($2.87) before settling at GBX 204 ($2.73).
• Peel Hunt maintained an "add" rating for Forterra with a target price of GBX 190 ($2.54), despite the recent price surge.
• The company had a market capitalization of £418.98 million and reported earnings of GBX 5.80 ($0.08) per share in its last quarterly results.

Forterra plc (LON:FORT - Get Free Report)'s share price rose 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). Approximately 4,258,317 shares traded hands during trading, an increase of 385% from the average daily volume of 878,666 shares. The stock had previously closed at GBX 183.80 ($2.45).

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Citigroup boosted their target price on shares of Forterra from GBX 176 ($2.35) to GBX 210 ($2.80) and gave the stock a "neutral" rating in a report on Wednesday. Peel Hunt reissued an "add" rating and set a GBX 190 ($2.54) price objective on shares of Forterra in a research note on Tuesday. Royal Bank Of Canada upped their price objective on Forterra from GBX 220 ($2.94) to GBX 250 ($3.34) and gave the company an "outperform" rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a GBX 320 ($4.27) target price on shares of Forterra in a report on Wednesday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of GBX 228 ($3.04).

Forterra Trading Down 0.7%

The company has a current ratio of 1.79, a quick ratio of 0.82 and a debt-to-equity ratio of 59.58. The company has a market capitalization of £416.06 million, a price-to-earnings ratio of 52.81, a PEG ratio of 0.30 and a beta of 1.25. The company has a fifty day moving average of GBX 194.18 and a 200-day moving average of GBX 176.77.

Forterra (LON:FORT - Get Free Report) last issued its earnings results 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%. As a group, equities research analysts anticipate 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.