Ibstock (LON:IBST) Stock Passes Below 50-Day Moving Average - Here's What Happened

Key Points

• Ibstock shares fell below their 50-day moving average, trading as low as GBX 84.60 versus the average of GBX 92.35, with 55.4 million shares changing hands.
• Analysts have generally turned more cautious: the consensus rating is “Hold”, with a GBX 113 price target, despite two Buy ratings and three Hold ratings.
• The company reported quarterly EPS of GBX 0.70, while profitability remained weak, including a negative 6.19% return on equity and a negative 6.67% net margin.

Ibstock plc (LON:IBST - Get Free Report) shares crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of GBX 92.35 and traded as low as GBX 84.60. Ibstock shares last traded at GBX 85.90, with a volume of 55,430,590 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Royal Bank Of Canada dropped their price target 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. Berenberg Bank reduced their price objective on shares of Ibstock from GBX 135 to GBX 120 and set a "hold" rating on the stock in a research report on Friday, May 22nd. Peel Hunt reissued a "buy" rating and issued a GBX 125 price objective on shares of Ibstock in a research note on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a GBX 100 target price on shares of Ibstock in a research report on Thursday, August 6th. Finally, Jefferies Financial Group cut their target price on Ibstock from GBX 115 to GBX 90 and set a "hold" rating on the stock in a research note on Monday, August 10th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of GBX 113.

Ibstock Price Performance

The company has a market cap of £339.32 million, a PE ratio of 107.38, a PEG ratio of 0.47 and a beta of 0.85. The company has a debt-to-equity ratio of 54.38, a current ratio of 1.28 and a quick ratio of 1.19. The stock's 50-day moving average is GBX 92.35 and its 200 day moving average is GBX 102.77.

Ibstock (LON:IBST - Get Free Report) last issued its quarterly earnings results 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%. On average, equities analysts anticipate that Ibstock plc will post 11.0089552 earnings per share for the current fiscal year.

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.

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