Ibstock (LON:IBST) Stock Price Passes Below Fifty Day Moving Average - What's Next?

Key Points

• Ibstock plc's stock price has fallen below its 50-day moving average of GBX 159.38, trading at GBX 147.40 as of Tuesday.
• Berenberg Bank has issued a "hold" rating and set a price target of GBX 200 for Ibstock shares.
• Insider Richard Akers purchased 100,000 shares at an average price of GBX 155, indicating potential confidence in the company.

Ibstock plc (LON:IBST - Get Free Report)'s share price passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of GBX 159.38 ($2.14) and traded as low as GBX 147.40 ($1.98). Ibstock shares last traded at GBX 147.40 ($1.98), with a volume of 609,797 shares.

Analyst Ratings Changes

Several research firms recently weighed in on IBST. Jefferies Financial Group cut their price target on shares of Ibstock from GBX 190 ($2.56) to GBX 188 ($2.53) and set a "buy" rating on the stock in a report on Friday. Berenberg Bank restated a "hold" rating and set a GBX 200 ($2.69) target price on shares of Ibstock in a report on Monday, June 16th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Ibstock from GBX 220 ($2.96) to GBX 210 ($2.82) and set a "buy" rating on the stock in a report on Thursday.

Ibstock Price Performance

The firm's fifty day moving average price is GBX 156.55 and its 200 day moving average price is GBX 167.81. The company has a quick ratio of 1.19, a current ratio of 1.37 and a debt-to-equity ratio of 46.91. The stock has a market cap of £583.93 million, a PE ratio of 80.24, a P/E/G ratio of 0.47 and a beta of 1.34.

Ibstock (LON:IBST - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported GBX 3 ($0.04) 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, equities analysts expect that Ibstock plc will post 11.0089552 EPS for the current fiscal year.

Insider Transactions at Ibstock

In related news, insider Richard Akers acquired 100,000 shares of the firm's stock in a transaction that occurred on Thursday, June 19th. The stock was purchased at an average cost of GBX 155 ($2.08) per share, with a total value of £155,000 ($208,473.44). 0.35% of the stock is currently owned by 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.