Ibstock (LON:IBST) Stock Price Down 15% - Here's Why

Ibstock plc (LON:IBST - Get Free Report)'s share price fell 15% during trading on Wednesday . The company traded as low as GBX 157.41 ($2.13) and last traded at GBX 164.17 ($2.23). 13,207,828 shares traded hands during mid-day trading, an increase of 485% from the average session volume of 2,256,392 shares. The stock had previously closed at GBX 193.20 ($2.62).

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on IBST. Berenberg Bank reissued a "hold" rating and set a GBX 200 ($2.71) price target on shares of Ibstock in a research report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft increased their price objective on Ibstock from GBX 225 ($3.05) to GBX 240 ($3.25) and gave the company a "buy" rating in a report on Thursday, February 20th.

Ibstock Trading Down 0.1%

The company has a current ratio of 1.37, a quick ratio of 1.19 and a debt-to-equity ratio of 46.91. The business's 50-day moving average is GBX 182.19 and its two-hundred day moving average is GBX 175.82. The firm has a market cap of £641.45 million, a P/E ratio of 88.14, a P/E/G ratio of 0.47 and a beta of 1.34.

Insider Transactions at Ibstock

In other Ibstock news, insider Joe Hudson sold 139,886 shares of Ibstock stock in a transaction 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). Company insiders own 0.35% of the company's stock.

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.