Royal Bank Of Canada Has Lowered Expectations for Forterra (LON:FORT) Stock Price

Key Points

• Royal Bank of Canada cut Forterra’s price target from GBX 195 to GBX 180 but maintained an “outperform” rating, implying roughly 30% upside from the current price.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average target price of GBX 207.33, despite recent target reductions from several firms.
• Forterra shares opened at GBX 138.20, near the lower end of their 52-week range. The company reported quarterly earnings of GBX 4.10 per share, while insiders bought 54,000 shares during the last quarter.

Forterra (LON:FORT - Get Free Report) had its price target cut by stock analysts at Royal Bank Of Canada from GBX 195 to GBX 180 in a note issued to investors on Wednesday,Digital Look reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's price target indicates a potential upside of 30.25% from the company's current price.

Other equities research analysts also recently issued reports about the stock. Berenberg Bank reissued a "hold" rating and issued a GBX 170 price target on shares of Forterra in a report on Wednesday. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Forterra from GBX 320 to GBX 250 and set a "buy" rating for the company in a research note on Wednesday, May 20th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a GBX 204 target price on shares of Forterra in a research note on Wednesday, May 20th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of GBX 207.33.

Forterra Stock Up 0.1%

FORT stock opened at GBX 138.20 on Wednesday. The company has a debt-to-equity ratio of 34.75, a quick ratio of 0.82 and a current ratio of 1.46. The company has a market capitalization of £283.44 million, a price-to-earnings ratio of 17.27, a PEG ratio of 0.30 and a beta of 0.73. Forterra has a fifty-two week low of GBX 126.40 and a fifty-two week high of GBX 210. The stock has a fifty day moving average of GBX 135.32 and a 200-day moving average of GBX 158.02.

Forterra (LON:FORT - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The company reported GBX 4.10 earnings per share for the quarter. Forterra had a net margin of 4.40% and a return on equity of 7.33%. As a group, equities research analysts predict that Forterra will post 11.9888346 earnings per share for the current year.

Insider Transactions at Forterra

In other Forterra news, insider Nigel Lingwood purchased 25,000 shares of the company's stock in a transaction dated Friday, June 12th. The stock was purchased at an average price of GBX 133 per share, for a total transaction of £33,250. Also, insider Neil Ash acquired 11,500 shares of the business's stock in a transaction dated Friday, June 12th. The shares were acquired at an average cost of GBX 133 per share, with a total value of £15,295. In the last quarter, insiders have bought 54,000 shares of company stock valued at $7,164,500. Corporate insiders own 0.46% of the company's stock.

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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