Ibstock (LON:IBST) Trading 8% Higher - Still a Buy?

Key Points

• Ibstock plc shares surged by 8% during mid-day trading, reaching GBX 137.80 ($1.84), with trading volume increasing by 50% compared to the average session.
• Analysts have varying outlooks on Ibstock, with Jefferies Financial Group and Deutsche Bank both maintaining a "buy" rating, but lowering their price targets significantly.
• Ibstock's current market capitalization stands at £543.87 million, and analysts expect it to post an EPS of approximately 11.01 for the current fiscal year.

Shares of Ibstock plc (LON:IBST - Get Free Report) traded up 8% during mid-day trading 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 were traded during 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 analysts recently issued reports on the stock. Jefferies Financial Group cut their price target on shares of Ibstock from GBX 188 to GBX 143 and set a "buy" rating for the company in a report on Monday. Berenberg Bank dropped their price objective on Ibstock from GBX 170 to GBX 150 and set a "hold" rating for the company in a report on Wednesday, October 15th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Ibstock from GBX 210 to GBX 190 and set a "buy" rating for the company in a report on Friday, October 10th. Finally, Royal Bank Of Canada lowered their target price on shares of Ibstock from GBX 210 to GBX 170 and set an "outperform" rating for the company in a report on Wednesday, October 15th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of GBX 163.25.

Ibstock Trading Up 8.0%

The firm 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 business's 50-day moving average is GBX 135.71 and its 200 day moving average is GBX 156.30. The company has a debt-to-equity ratio of 46.91, a current ratio of 1.37 and a quick ratio of 1.19.

Ibstock (LON:IBST - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported GBX 3 EPS for the quarter. Ibstock had a net margin of 2.01% and a return on equity of 1.83%. As a group, analysts anticipate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.