Ibstock (LON:IBST) Price Target Lowered to GBX 90 at Jefferies Financial Group

Key Points

• Jefferies cut Ibstock’s price target from GBX 115 to GBX 90 and maintained a “hold” rating, implying 2.49% downside from the current price.
• Analyst sentiment is mixed but leans neutral: MarketBeat reports a consensus “hold” rating and a GBX 113 target, based on two buys and three holds.
• Ibstock shares opened at GBX 92.30, near their 12-month low of GBX 87.65, while the company reported quarterly earnings of GBX 0.70 per share and weak profitability metrics, including a 0.83% net margin.

Ibstock (LON:IBST - Get Free Report) had its price objective cut by equities researchers at Jefferies Financial Group from GBX 115 to GBX 90 in a research note issued to investors on Monday,London Stock Exchange reports. The brokerage presently has a "hold" rating on the stock. Jefferies Financial Group's price objective would indicate a potential downside of 2.49% from the company's current price.

IBST has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a GBX 100 price target on shares of Ibstock in a report on Thursday. Royal Bank Of Canada lowered their price objective on Ibstock from GBX 160 to GBX 130 and set an "outperform" rating for the company in a research report on Thursday, July 30th. Berenberg Bank cut their target price on Ibstock from GBX 135 to GBX 120 and set a "hold" rating for the company in a research note on Friday, May 22nd. Finally, Peel Hunt restated a "buy" rating and issued a GBX 125 target price on shares of Ibstock in a research report on Wednesday, August 5th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of GBX 113.

Ibstock Stock Performance

LON:IBST opened at GBX 92.30 on Monday. The company's 50-day moving average price is GBX 94.06 and its 200-day moving average price is GBX 106.33. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 44.59. The company has a market cap of £364.60 million, a P/E ratio of 115.37, a P/E/G ratio of 0.47 and a beta of 0.86. Ibstock has a twelve month low of GBX 87.65 and a twelve month high of GBX 150.

Ibstock (LON:IBST - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported GBX 0.70 earnings per share for the quarter. Ibstock had a return on equity of 0.79% and a net margin of 0.83%. On average, sell-side analysts forecast that Ibstock will post 11.0089552 earnings per share for the current fiscal year.

About Ibstock

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source