Shares of Ibstock plc (LON:IBST – Get Free Report) dropped 15% during mid-day trading on Wednesday . The company traded as low as GBX 157.41 ($2.13) and last traded at GBX 164.17 ($2.22). Approximately 13,207,828 shares traded hands during trading, an increase of 485% from the average daily volume of 2,256,392 shares. The stock had previously closed at GBX 193.20 ($2.61).
Analyst Ratings Changes
IBST has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft increased their target price on Ibstock from GBX 225 ($3.04) to GBX 240 ($3.24) and gave the stock a “buy” rating in a report on Thursday, February 20th. Berenberg Bank reiterated a “hold” rating and set a GBX 200 ($2.70) target price on shares of Ibstock in a report on Wednesday, April 23rd.
Check Out Our Latest Analysis on IBST
Ibstock Stock Performance
Insider Transactions at Ibstock
In other news, insider Joe Hudson sold 139,886 shares of the stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of GBX 176 ($2.38), for a total transaction of £246,199.36 ($332,387.42). Company insiders own 0.35% of the company’s stock.
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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