Ibstock (LON:IBST) Shares Down 12.8% - Here's What Happened

Ibstock plc (LON:IBST - Get Free Report)'s stock price was down 12.8% during mid-day trading on Wednesday . The company traded as low as GBX 157.41 ($2.13) and last traded at GBX 168.40 ($2.28). Approximately 17,523,068 shares changed hands during trading, an increase of 663% from the average daily volume of 2,295,268 shares. The stock had previously closed at GBX 193.20 ($2.62).

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Berenberg Bank reissued a "hold" rating and issued a GBX 200 ($2.71) target price on shares of Ibstock in a research note on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft upped their price target on shares of Ibstock from GBX 225 ($3.05) to GBX 240 ($3.25) and gave the stock a "buy" rating in a research note on Thursday, February 20th.

Ibstock Stock Performance

The business's 50 day simple moving average is GBX 182.19 and its two-hundred day simple moving average is GBX 175.82. The firm has a market capitalization of £641.45 million, a PE ratio of 88.14, a price-to-earnings-growth ratio of 0.47 and a beta of 1.34. The company has a current ratio of 1.37, a quick ratio of 1.19 and a debt-to-equity ratio of 46.91.

Insider Activity at Ibstock

In other news, insider Joe Hudson sold 139,886 shares of Ibstock 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 ($333,739.14). 0.35% of the stock is owned by company 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.