Forterra (LON:FORT) Stock Price Up 11% - Still a Buy?

Key Points

• Forterra plc shares rose by 11% in trading, reaching a high of GBX 215 ($2.87), with an unusually high trading volume of 4,258,317 shares.
• Brokerages have expressed varying opinions, with Royal Bank Of Canada upgrading its target price from GBX 220 ($2.94) to GBX 250 ($3.34), giving the stock an "outperform" rating.
• Forterra reported quarterly earnings of GBX 5.80 ($0.08) per share, with analysts predicting an average of 11.99 earnings per share for the current year.

Forterra plc (LON:FORT - Get Free Report)'s share price rose 11% on Tuesday . The company traded as high as GBX 215 ($2.85) and last traded at GBX 204 ($2.71). Approximately 4,258,317 shares traded hands 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).

Analyst Upgrades and Downgrades

FORT has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a GBX 320 ($4.25) price target on shares of Forterra in a research report on Wednesday. Royal Bank Of Canada increased their price objective on shares of Forterra from GBX 220 ($2.92) to GBX 250 ($3.32) and gave the company an "outperform" rating in a research note on Wednesday. Citigroup lifted their target price on Forterra from GBX 176 ($2.34) to GBX 210 ($2.79) and gave the stock a "neutral" rating in a research report on Wednesday. Finally, Peel Hunt reiterated an "add" rating and set a GBX 190 ($2.52) price objective on shares of Forterra in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of GBX 228 ($3.03).

Forterra Stock Down 1.9%

The firm's 50 day moving average price is GBX 194.87 and its two-hundred day moving average price is GBX 177.55. The company has a market capitalization of £405.83 million, a P/E ratio of 51.51, a PEG ratio of 0.30 and a beta of 1.25. The company has a current ratio of 1.79, a quick ratio of 0.82 and a debt-to-equity ratio of 59.58.

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