Ibstock (LON:IBST) Shares Down 15.2% - Here's Why

Ibstock plc (LON:IBST - Get Free Report) was down 15.2% during trading on Wednesday . The stock traded as low as GBX 157.41 ($2.14) and last traded at GBX 163.80 ($2.22). Approximately 18,859,225 shares traded hands during trading, an increase of 717% from the average daily volume of 2,307,306 shares. The stock had previously closed at GBX 193.20 ($2.62).

Wall Street Analyst Weigh In

Several research analysts recently commented on IBST shares. Deutsche Bank Aktiengesellschaft increased their price target on Ibstock from GBX 225 ($3.05) to GBX 240 ($3.26) and gave the company a "buy" rating in a research report on Thursday, February 20th. Berenberg Bank restated a "hold" rating and issued a GBX 200 ($2.72) price objective on shares of Ibstock in a research note on Wednesday, April 23rd.

Ibstock Stock Performance

The company has a debt-to-equity ratio of 46.91, a current ratio of 1.37 and a quick ratio of 1.19. The stock has a 50-day simple moving average of GBX 182.26 and a 200-day simple moving average of GBX 175.37. The stock has a market cap of £621.75 million, a P/E ratio of 85.43, a PEG ratio of 0.47 and a beta of 1.34.

Insider Buying and Selling at Ibstock

In other Ibstock news, insider Joe Hudson sold 139,886 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of GBX 176 ($2.39), for a total transaction of £246,199.36 ($334,282.91). 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.