Ibstock (LON:IBST) Shares Up 8% - What's Next?

Key Points

• Ibstock plc shares surged 8%, reaching GBX 137.80 ($1.84), with trading volume increasing by 50% compared to the average session.
• Analysts have mixed views, with Berenberg Bank lowering its price target to GBX 150 while Jefferies Financial Group set a new target at GBX 143, indicating a range of "buy" to "hold" ratings.
• For the current year, analysts project Ibstock will achieve earnings per share (EPS) of approximately 11.01, reflecting the company's operational outlook.

Ibstock plc (LON:IBST - Get Free Report) shot up 8% on Thursday . The stock traded as high as GBX 137.80 ($1.84) and last traded at GBX 137.80 ($1.84). 3,137,652 shares were traded during mid-day trading, an increase of 50% from the average session volume of 2,096,802 shares. The stock had previously closed at GBX 127.60 ($1.70).

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on IBST. Berenberg Bank lowered their price target on Ibstock from GBX 170 to GBX 150 and set a "hold" rating for the company in a report on Wednesday, October 15th. Jefferies Financial Group decreased their price target on Ibstock from GBX 188 to GBX 143 and set a "buy" rating for the company in a report on Monday. Royal Bank Of Canada decreased their price target on Ibstock from GBX 210 to GBX 170 and set an "outperform" rating for the company in a report on Wednesday, October 15th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Ibstock from GBX 210 to GBX 190 and set a "buy" rating for the company 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 data from MarketBeat, Ibstock has a consensus rating of "Moderate Buy" and an average price target of GBX 163.25.

Ibstock Stock Down 1.5%

The business has a 50-day moving average price of GBX 135.71 and a 200-day moving average price of GBX 156.30. The stock has a market cap of £535.71 million, a PE ratio of 45.24, a price-to-earnings-growth 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.

Ibstock (LON:IBST - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported GBX 3 earnings per share (EPS) for the quarter. Ibstock had a net margin of 2.01% and a return on equity of 1.83%. As a group, analysts forecast that Ibstock plc 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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