Ibstock (LON:IBST) Sets New 1-Year Low - Here's What Happened

Key Points

• Ibstock shares hit a new 52-week low of GBX 86.70, down 3.4% from the previous close, with more than 10.6 million shares traded.
• Analyst sentiment remains cautious: two analysts rate the stock “Buy” and three rate it “Hold,” producing an average “Hold” rating and a consensus price target of GBX 113. Several firms recently lowered their targets.
• The company reported quarterly earnings of GBX 0.70 per share, while profitability remained weak with a negative 6.19% return on equity and a negative 6.67% net margin.

Ibstock plc (LON:IBST - Get Free Report)'s stock price reached a new 52-week low on Monday . The company traded as low as GBX 86.70 and last traded at GBX 86.70, with a volume of 10677503 shares changing hands. The stock had previously closed at GBX 89.78.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Berenberg Bank dropped their target price on Ibstock from GBX 135 to GBX 120 and set a "hold" rating on the stock in a research report on Friday, May 22nd. Jefferies Financial Group lowered their price objective on Ibstock from GBX 115 to GBX 90 and set a "hold" rating for the company in a research note on Monday, August 10th. Peel Hunt restated a "buy" rating and set a GBX 125 price objective on shares of Ibstock in a report on Wednesday, August 5th. Royal Bank Of Canada cut their target price on Ibstock from GBX 160 to GBX 130 and set an "outperform" rating on the stock in a research report on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a GBX 100 target price on shares of Ibstock in a research note on Thursday, August 6th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Ibstock presently has an average rating of "Hold" and a consensus target price of GBX 113.

Ibstock Stock Down 3.4%

The firm has a market capitalization of £342.48 million, a price-to-earnings ratio of 108.38, a P/E/G ratio of 0.47 and a beta of 0.85. The stock has a 50 day moving average of GBX 93.49 and a 200 day moving average of GBX 104.90. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 54.38.

Ibstock (LON:IBST - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported GBX 0.70 earnings per share for the quarter. Ibstock had a negative return on equity of 6.19% and a negative net margin of 6.67%. As a group, analysts expect that Ibstock plc 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.

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