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

Ibstock plc (LON:IBST - Get Free Report) was down 15.6% during mid-day trading on Wednesday . The stock 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 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).

Wall Street Analyst Weigh In

Several equities analysts have issued reports on IBST shares. Berenberg Bank restated a "hold" rating and issued a GBX 200 ($2.72) price target on shares of Ibstock in a research report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft increased their price objective 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.

Ibstock Stock Performance

The company has a debt-to-equity ratio of 46.91, a current ratio of 1.37 and a quick ratio of 1.19. The company's 50-day moving average price is GBX 182.26 and its two-hundred day moving average price is GBX 175.37. The company has a market capitalization of £621.75 million, a price-to-earnings ratio of 85.43, a PEG ratio of 0.47 and a beta of 1.34.

Insider Transactions at Ibstock

In related news, insider Joe Hudson sold 139,886 shares of the stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of GBX 176 ($2.39), for a total transaction of £246,199.36 ($334,282.91). 0.35% of the stock is currently owned by corporate 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.