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

Key Points

• Ibstock plc's share price surged by 8% on Wednesday, reaching GBX 137.80 ($1.84), with trading volume increasing by 50% compared to average levels.
• Analysts have recently downgraded their price targets for Ibstock, with ratings ranging from "buy" to "hold", leading to a consensus target price of GBX 163.25.
• The company has reported a net margin of 2.01% and a projected earnings per share (EPS) of 11.01 for the current fiscal year.

Ibstock plc (LON:IBST - Get Free Report)'s share price 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 traded 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).

Analyst Upgrades and Downgrades

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

Ibstock Price Performance

The firm has a fifty day moving average price of GBX 135.71 and a two-hundred day moving average price of GBX 156.30. The stock has a market capitalization of £543.87 million, a P/E ratio of 45.93, a PEG 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.

Ibstock (LON:IBST - Get Free Report) last announced its earnings results 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%. As a group, analysts expect that Ibstock plc will post 11.0089552 EPS 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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