Ibstock (LON:IBST) Trading Down 15.6% - Here's What Happened

Shares of Ibstock plc (LON:IBST - Get Free Report) were down 15.6% during trading on Wednesday . The company traded as low as GBX 157.41 ($2.14) and last traded at GBX 163 ($2.21). Approximately 11,275,572 shares traded hands during 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).

Wall Street Analysts Forecast Growth

A number of analysts have commented on IBST shares. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Ibstock from GBX 225 ($3.05) to GBX 240 ($3.26) and gave the stock a "buy" rating in a research report on Thursday, February 20th. Berenberg Bank reiterated a "hold" rating and issued a GBX 200 ($2.71) target price on shares of Ibstock in a report on Wednesday, April 23rd.

Ibstock Price Performance

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 fifty day moving average is GBX 182.26 and its 200 day moving average is GBX 175.44. The firm has a market capitalization of £621.75 million, a P/E ratio of 85.43, a P/E/G ratio of 0.47 and a beta of 1.34.

Insider Transactions at Ibstock

In other news, insider Joe Hudson sold 139,886 shares of Ibstock 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 ($334,056.12). 0.35% of the stock is currently owned by insiders.

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.