Ibstock (LON:IBST) Stock Breaks Below 50-Day Moving Average - Here's Why

Key Points

• Ibstock shares fell below their 50-day moving average, trading as low as GBX 76 and last at GBX 77.35, compared with the 50-day average of GBX 83.24.
• Analysts maintain a consensus “Hold” rating with an average target price of GBX 107. Ratings include two Buys and three Holds, while several firms recently lowered their price targets.
• The company reported quarterly EPS of GBX 0.70 but continues to show a negative net margin of 6.67% and negative return on equity of 6.19%.

Ibstock plc (LON:IBST - Get Free Report)'s stock price crossed below its 50 day moving average during trading on Monday. The stock has a 50 day moving average of GBX 83.24 and traded as low as GBX 76. Ibstock shares last traded at GBX 77.35, with a volume of 562,447 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on IBST. Peel Hunt restated a "buy" rating and set a GBX 125 target price on shares of Ibstock in a research report on Wednesday, August 5th. Berenberg Bank reiterated a "hold" rating and issued a GBX 90 price target on shares of Ibstock in a research report on Monday, October 5th. Jefferies Financial Group lowered their price target on shares of Ibstock from GBX 115 to GBX 90 and set a "hold" rating on the stock in a research report on Monday, August 10th. Royal Bank Of Canada dropped their price objective on shares of Ibstock from GBX 160 to GBX 130 and set an "outperform" rating for the company in a research note on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a GBX 100 price objective on shares of Ibstock in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of GBX 107.

Ibstock Stock Performance

The company has a market capitalization of £305.54 million, a price-to-earnings ratio of -13.57, a PEG ratio of 0.47 and a beta of 0.84. The stock has a fifty day moving average price of GBX 83.24 and a two-hundred day moving average price of GBX 93.17. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 54.38.

Ibstock (LON:IBST - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported GBX 0.70 earnings per share (EPS) for the quarter. Ibstock had a negative return on equity of 6.19% and a negative net margin of 6.67%. As a group, analysts forecast that Ibstock plc will post 11.01 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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.