Forterra (LON:FORT) Shares Climb 18.2% Following Insider Buying Activity

Key Points

• Forterra shares surged 18.2% to GBX 162 after several insiders purchased shares, including Aysegul Sabanci’s 5,000-share acquisition for £7,900.
• Analysts remain broadly positive, with four Buy ratings and one Hold rating; the consensus price target is GBX 202.20, above the current share price.
• Forterra reported quarterly EPS of GBX 5.10, along with a 5.09% net margin and 7.98% return on equity; analysts expect full-year EPS of approximately GBX 11.99.

Forterra plc (LON:FORT - Get Free Report)'s share price rose 18.2% during mid-day trading on Monday after an insider bought additional shares in the company. The company traded as high as GBX 163.80 and last traded at GBX 162. Approximately 2,368,320 shares changed hands during mid-day trading, an increase of 63% from the average session volume of 1,452,189 shares. The stock had previously closed at GBX 137.

Specifically, insider Aysegul Sabanci purchased 5,000 shares of the firm's stock in a transaction dated Monday, September 28th. The stock was bought at an average price of GBX 158 per share, for a total transaction of £7,900. Also, insider Gina Jardine acquired 13,313 shares of the firm's stock in a transaction dated Tuesday, September 22nd. The shares were purchased at an average cost of GBX 138 per share, for a total transaction of £18,371.94. In other news, insider Gavin Hill acquired 28,944 shares of the firm's stock in a transaction on Thursday, September 17th. The shares were purchased at an average cost of GBX 138 per share, with a total value of £39,942.72.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FORT. Royal Bank Of Canada reduced their price target on shares of Forterra from GBX 195 to GBX 180 and set an "outperform" rating on the stock in a research report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a GBX 250 target price on shares of Forterra in a research note on Wednesday, July 29th. Jefferies Financial Group raised their price target on shares of Forterra from GBX 160 to GBX 181 and gave the stock a "buy" rating in a research note on Monday, August 10th. Finally, Berenberg Bank reiterated a "hold" rating and set a GBX 170 price target on shares of Forterra in a report on Wednesday, July 29th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of GBX 202.20.

Forterra Price Performance

The company has a fifty day moving average of GBX 141.12 and a 200 day moving average of GBX 145.70. The firm has a market capitalization of £325.83 million, a P/E ratio of 17.80, a PEG ratio of 0.30 and a beta of 0.73. The company has a debt-to-equity ratio of 43.78, a current ratio of 1.57 and a quick ratio of 0.82.

Forterra (LON:FORT - Get Free Report) last released its earnings results on Tuesday, July 28th. The company reported GBX 5.10 earnings per share (EPS) for the quarter. Forterra had a net margin of 5.09% and a return on equity of 7.98%. Sell-side analysts predict that Forterra plc will post 11.9888346 earnings per share for the current year.

About Forterra

Forterra is a leading UK manufacturer of essential clay and concrete building products, with a unique combination of strong market positions in clay bricks, concrete blocks and precast concrete flooring. Our heritage dates back many decades and the durability, longevity and inherent sustainability of our products is evident in the construction of buildings that last for generations; wherever you are in Britain, you won't be far from a building with a Forterra product within its fabric. Our clay brick business combines our extensive secure mineral reserves with modern and efficient high-volume manufacturing processes to produce large quantities of extruded and soft mud bricks, primarily for the new build housing market.

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