Ibstock (LON:IBST) Shares Cross Below Fifty Day Moving Average - What's Next?

Key Points

• Ibstock plc's stock price fell below its 50-day moving average, trading at GBX 149.20 ($2.01), down from an average of GBX 165.49 ($2.22).
• Analysts at Berenberg Bank maintained a "hold" rating on Ibstock, with a target price set at GBX 200 ($2.69).
• Insider transactions showed Richard Akers buying 100,000 shares at GBX 155, while Joe Hudson sold 139,886 shares at GBX 176.

Shares of Ibstock plc (LON:IBST - Get Free Report) crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of GBX 165.49 ($2.21) and traded as low as GBX 147.60 ($1.97). Ibstock shares last traded at GBX 149.20 ($1.99), with a volume of 662,728 shares.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reissued a "hold" rating and issued a GBX 200 ($2.67) price objective on shares of Ibstock in a report on Monday, June 16th.

Ibstock Price Performance

The firm has a market capitalization of £587.08 million, a P/E ratio of 80.67, a price-to-earnings-growth ratio of 0.47 and a beta of 1.34. The business has a fifty day moving average of GBX 164.67 and a 200-day moving average of GBX 168.89. The company has a debt-to-equity ratio of 46.91, a quick ratio of 1.19 and a current ratio of 1.37.

Insider Buying and Selling

In other news, insider Richard Akers bought 100,000 shares of the business's stock in a transaction on Thursday, June 19th. The stock was purchased at an average cost of GBX 155 ($2.07) per share, for a total transaction of £155,000 ($207,080.83). Also, insider Joe Hudson sold 139,886 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of GBX 176 ($2.35), for a total value of £246,199.36 ($328,923.66). Corporate insiders own 0.35% of the company's stock.

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.