Ibstock (LON:IBST) Price Target Cut to GBX 150 by Analysts at Berenberg Bank

Key Points

• Analysts at Berenberg Bank have significantly reduced their price target for Ibstock from GBX 170 to GBX 150, maintaining a "hold" rating on the stock.
• The average target price for Ibstock now stands at GBX 174.50, with three analysts giving it a "Buy" rating while one has issued a "Hold" rating.
• As of Wednesday, Ibstock's shares were trading at GBX 124.92, down by GBX 4.08, reflecting a current market capitalization of approximately £493 million.

Ibstock (LON:IBST - Get Free Report) had its target price dropped by analysts at Berenberg Bank from GBX 170 to GBX 150 in a report issued on Wednesday,Digital Look reports. The firm currently has a "hold" rating on the stock. Berenberg Bank's price target points to a potential upside of 20.08% from the stock's previous close.

A number of other equities research analysts have also recently commented on IBST. Jefferies Financial Group decreased their price target on Ibstock from GBX 190 to GBX 188 and set a "buy" rating on the stock in a report on Friday, August 8th. Royal Bank Of Canada reduced their target price on Ibstock from GBX 210 to GBX 170 and set an "outperform" rating on the stock in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Ibstock from GBX 210 to GBX 190 and set a "buy" rating on the stock in a report on Friday, October 10th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Ibstock presently has an average rating of "Moderate Buy" and an average target price of GBX 174.50.

Ibstock Stock Performance

LON IBST traded down GBX 4.08 on Wednesday, hitting GBX 124.92. 1,601,636 shares of the company traded hands, compared to its average volume of 2,115,884. The company has a market capitalization of £493.02 million, a price-to-earnings ratio of 4,163.90, a P/E/G ratio of 0.47 and a beta of 1.34. The company has a current ratio of 1.37, a quick ratio of 1.19 and a debt-to-equity ratio of 46.91. The business's 50 day moving average price is GBX 138.22 and its 200-day moving average price is GBX 157.97. Ibstock has a 52-week low of GBX 113.78 and a 52-week high of GBX 212.

Ibstock (LON:IBST - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported GBX 3 EPS for the quarter. Ibstock had a return on equity of 1.83% and a net margin of 2.01%. Equities analysts expect that Ibstock will post 11.0089552 earnings per share for the current year.

Ibstock Company Profile

Ibstock plc manufactures and sells clay and concrete building products and solutions to customers in the residential construction sector in the United Kingdom. The company offers bricks and masonry, which includes facing and engineering bricks, brick slips, special shaped bricks, walling stone, architectural masonry, prefabricated components, eco-habitats, and padstones and lintels, as well as façade systems; roofing products comprising roof tiles and accessories, and chimneys; and flooring and lintels, such as beam and block flooring, insulated flooring, hollowcore, and screed rails.

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