Ibstock (LON:IBST) Trading 8% Higher - Here's What Happened

Key Points

• Ibstock plc shares increased by 8% on Wednesday, reaching a trading price of GBX 137.80 ($1.84) and showing a significant volume increase of 50% compared to the average session.
• Equities research analysts have lowered their price targets for Ibstock, with a consensus target of GBX 163.25 and a rating of "Moderate Buy" from three analysts, while one rated it as "Hold."
• The company, with a market capitalization of £543.87 million, reported a quarterly EPS of GBX 3, but has a relatively low return on equity of 1.83% and a net margin of 2.01%.

Shares of Ibstock plc (LON:IBST - Get Free Report) traded up 8% on Wednesday . The stock traded as high as GBX 137.80 ($1.84) and last traded at GBX 137.80 ($1.84). 3,137,652 shares changed hands during mid-day trading, an increase of 50% from the average session volume of 2,096,802 shares. The stock had previously closed at GBX 127.60 ($1.70).

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Royal Bank Of Canada lowered their price objective on Ibstock from GBX 210 to GBX 170 and set an "outperform" rating on the stock in a research note on Wednesday, October 15th. Jefferies Financial Group decreased their price target on Ibstock from GBX 188 to GBX 143 and set a "buy" rating on the stock in a research report on Monday. Berenberg Bank decreased their price target on Ibstock from GBX 170 to GBX 150 and set a "hold" rating on the stock in a research report on Wednesday, October 15th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Ibstock from GBX 210 to GBX 190 and set a "buy" rating on the stock in a research report on Friday, October 10th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 163.25.

Ibstock Price Performance

The stock has a market capitalization of £543.87 million, a P/E ratio of 45.93, a price-to-earnings-growth ratio of 0.47 and a beta of 1.34. The company has a debt-to-equity ratio of 46.91, a quick ratio of 1.19 and a current ratio of 1.37. The stock has a 50-day simple moving average of GBX 135.71 and a 200 day simple moving average of GBX 156.30.

Ibstock (LON:IBST - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported GBX 3 EPS for the quarter. Ibstock had a return on equity of 1.83% and a net margin of 2.01%. On average, equities analysts forecast that Ibstock plc will post 11.0089552 earnings per share for the current fiscal year.

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.

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