Ibstock (LON:IBST) Shares Down 15.6% - Here's Why

Ibstock plc (LON:IBST - Get Free Report) was down 15.6% during trading on Wednesday . The company traded as low as GBX 157.41 ($2.13) and last traded at GBX 163 ($2.21). Approximately 11,275,572 shares traded hands during mid-day trading, an increase of 404% from the average daily volume of 2,238,985 shares. The stock had previously closed at GBX 193.20 ($2.62).

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Berenberg Bank reaffirmed a "hold" rating and set a GBX 200 ($2.71) price target on shares of Ibstock in a research note on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Ibstock from GBX 225 ($3.05) to GBX 240 ($3.25) and gave the stock a "buy" rating in a research note on Thursday, February 20th.

Ibstock Price Performance

The stock has a market cap of £641.75 million, a price-to-earnings ratio of 88.18, a price-to-earnings-growth ratio of 0.47 and a beta of 1.34. The business's fifty day simple moving average is GBX 182.19 and its 200 day simple moving average is GBX 175.82. The company has a debt-to-equity ratio of 46.91, a quick ratio of 1.19 and a current ratio of 1.37.

Insider Buying and Selling

In other news, insider Joe Hudson sold 139,886 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of GBX 176 ($2.39), for a total value of £246,199.36 ($333,739.14). 0.35% of the stock is owned by company insiders.

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.