Royal Bank Of Canada Lowers Ibstock (LON:IBST) Price Target to GBX 170

Key Points

• The Royal Bank of Canada has reduced its price target for Ibstock (LON:IBST) from GBX 210 to GBX 170, while maintaining an "outperform" rating on the stock.
• Deutsche Bank and Berenberg Bank have also lowered their price targets for Ibstock, with the current consensus price target standing at GBX 179.50.
• Ibstock's stock has experienced a decline of 3.2%, trading down to GBX 124.92, amid a market cap of £493.02 million.

Ibstock (LON:IBST - Get Free Report) had its price target reduced by research analysts at Royal Bank Of Canada from GBX 210 to GBX 170 in a report issued on Wednesday,Digital Look reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective would suggest a potential upside of 36.09% from the stock's current price.

Several other brokerages also recently issued reports on IBST. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Ibstock from GBX 210 to GBX 190 and set a "buy" rating on the stock in a research note on Friday, October 10th. Berenberg Bank lowered their target price on shares of Ibstock from GBX 200 to GBX 170 and set a "hold" rating on the stock in a research note on Monday, September 8th. Finally, Jefferies Financial Group reduced their price target on shares of Ibstock from GBX 190 to GBX 188 and set a "buy" rating for the company in a research note on Friday, August 8th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 179.50.

Ibstock Stock Down 3.2%

LON:IBST traded down GBX 4.08 during mid-day trading on Wednesday, hitting GBX 124.92. 1,601,636 shares of the company's stock were exchanged, compared to its average volume of 2,115,884. Ibstock has a one year low of GBX 113.78 and a one year high of GBX 212. The business has a fifty day moving average price of GBX 138.22 and a 200 day moving average price of GBX 157.97. The company has a market cap of £493.02 million, a PE ratio of 4,163.90, a P/E/G ratio of 0.47 and a beta of 1.34. The company has a debt-to-equity ratio of 46.91, a current ratio of 1.37 and a quick ratio of 1.19.

Ibstock (LON:IBST - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported GBX 3 earnings per share for the quarter. Ibstock had a return on equity of 1.83% and a net margin of 2.01%. Equities analysts predict that Ibstock will post 11.0089552 EPS for the current 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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