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

Key Points

• Ibstock shares fell below their 50-day moving average, reaching GBX 78.30 before last trading at GBX 81.05 on volume of 1.26 million shares. The stock’s 50-day and 200-day moving averages are GBX 81.83 and GBX 92.24, respectively.
• Analyst sentiment remains mixed but centers on a “Hold” consensus, with a consensus price target of GBX 107. Target changes included Jefferies cutting its target to GBX 90, while RBC lowered its target to GBX 130 but retained an “Outperform” rating.
• Ibstock reported quarterly EPS of GBX 0.70 but continues to show financial weakness, including a negative net margin of 6.67% and negative return on equity of 6.19%.

Ibstock plc (LON:IBST - Get Free Report)'s share price passed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of GBX 81.83 and traded as low as GBX 78.30. Ibstock shares last traded at GBX 81.05, with a volume of 1,258,154 shares.

Analysts Set New Price Targets

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

Ibstock Price Performance

The business's 50 day moving average is GBX 81.83 and its two-hundred day moving average is GBX 92.24. The firm has a market capitalization of £320.16 million, a PE ratio of -14.22, a P/E/G ratio of 0.47 and a beta of 0.84. The company has a debt-to-equity ratio of 54.38, a current ratio of 1.28 and a quick ratio of 1.19.

Ibstock (LON:IBST - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported GBX 0.70 earnings per share (EPS) for the quarter. Ibstock had a negative net margin of 6.67% and a negative return on equity of 6.19%. As a group, research analysts anticipate that Ibstock plc will post 11.01 EPS for the current 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.

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