Forterra (LON:FORT) Trading 11.5% Higher - Here's Why

Key Points

• Forterra plc shares surged 11.5% during mid-day trading, reaching a high of GBX 206 ($2.75), following a previous close of GBX 183.80 ($2.46).
• The company has a market capitalization of £425.14 million and reported an earnings per share (EPS) of GBX 5.80 ($0.08) in its last quarterly earnings.
• Forterra is a leading UK manufacturer of essential building products, holding strong market positions in clay bricks, concrete blocks, and precast concrete flooring.

Forterra plc (LON:FORT - Get Free Report)'s stock price was up 11.5% during mid-day trading on Tuesday . The company traded as high as GBX 206 ($2.72) and last traded at GBX 204.99 ($2.71). Approximately 4,004,612 shares traded hands during mid-day trading, an increase of 357% from the average daily volume of 876,916 shares. The stock had previously closed at GBX 183.80 ($2.43).

Wall Street Analyst Weigh In

Several research firms have issued reports on FORT. Peel Hunt restated an "add" rating and issued a GBX 190 ($2.51) price target on shares of Forterra in a research report on Tuesday. Royal Bank Of Canada raised their price target on shares of Forterra from GBX 220 ($2.91) to GBX 250 ($3.30) and gave the stock an "outperform" rating in a research report on Wednesday. Citigroup lifted their target price on shares of Forterra from GBX 176 ($2.32) to GBX 210 ($2.77) and gave the company a "neutral" rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a GBX 320 ($4.23) target price on shares of Forterra in a research report on Wednesday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of GBX 228 ($3.01).

Forterra Price Performance

The company has a market capitalization of £405.83 million, a P/E ratio of 51.51, a price-to-earnings-growth ratio of 0.30 and a beta of 1.25. The company's 50-day moving average price is GBX 194.71 and its two-hundred day moving average price is GBX 177.42. The company has a debt-to-equity ratio of 59.58, a current ratio of 1.79 and a quick ratio of 0.82.

Forterra (LON:FORT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported GBX 5.80 ($0.08) earnings per share for the quarter. Forterra had a net margin of 2.46% and a return on equity of 3.76%. As a group, sell-side analysts expect that Forterra plc will post 11.9888346 EPS for the current 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.