Forterra (LON:FORT) Stock Price Up 13.7% - Here's What Happened

Key Points

• Shares of Forterra plc increased by 13.7%, rising to GBX 209 ($2.79) during trading, significantly higher than its previous close of GBX 183.80 ($2.46).
• The company reported a net margin of 2.46% and a return on equity of 3.76%, with analysts expecting an earnings per share (EPS) of approximately 12 for the current fiscal year.
• Forterra is a prominent UK manufacturer of essential building products, particularly known for its clay bricks and concrete blocks, playing a vital role in the new build housing market.

Forterra plc (LON:FORT - Get Free Report)'s share price was up 13.7% during mid-day trading on Tuesday . The stock traded as high as GBX 215 ($2.84) and last traded at GBX 209 ($2.76). Approximately 5,856,061 shares changed hands during mid-day trading, an increase of 558% from the average daily volume of 889,685 shares. The stock had previously closed at GBX 183.80 ($2.43).

Wall Street Analysts Forecast Growth

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

Forterra Stock Down 1.9%

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 firm has a market capitalization of £405.83 million, a P/E ratio of 51.51, a P/E/G ratio of 0.30 and a beta of 1.25. The company has a 50 day simple moving average of GBX 194.71 and a two-hundred day simple moving average of GBX 177.42.

Forterra (LON:FORT - Get Free Report) last posted its quarterly 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%. On average, equities analysts predict that Forterra plc will post 11.9888346 EPS 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.