Jefferies Financial Group Cuts Forterra (LON:FORT) Price Target to GBX 208

Forterra (LON:FORT) had its target price cut by Jefferies Financial Group from GBX 261 to GBX 208 in a report released on Monday morning, Marketbeat.com reports. They currently have a buy rating on the stock.

Other research analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 320 price target on shares of Forterra in a research report on Wednesday, July 30th. Peel Hunt reaffirmed an “add” rating and set a GBX 190 price objective on shares of Forterra in a report on Tuesday, July 29th. Royal Bank Of Canada cut their target price on shares of Forterra from GBX 250 to GBX 220 and set an “outperform” rating for the company in a research report on Wednesday, October 15th. Citigroup boosted their price target on shares of Forterra from GBX 176 to GBX 210 and gave the company a “neutral” rating in a research report on Wednesday, July 30th. Finally, Berenberg Bank restated a “hold” rating and set a GBX 220 price target on shares of Forterra in a research note on Monday, September 8th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of GBX 228.

Forterra Trading Up 5.8%

Shares of Forterra stock opened at GBX 179.80 on Monday. The stock has a fifty day simple moving average of GBX 186.65 and a 200 day simple moving average of GBX 188.60. Forterra has a 12-month low of GBX 150 and a 12-month high of GBX 215. The company has a market capitalization of £379.22 million, a P/E ratio of 24.30, a price-to-earnings-growth ratio of 0.30 and a beta of 1.25. The company has a current ratio of 1.79, a quick ratio of 0.82 and a debt-to-equity ratio of 59.58.

Forterra (LON:FORT) last issued its quarterly earnings data on Tuesday, July 29th. The company reported GBX 5.80 earnings per share (EPS) for the quarter. Forterra had a net margin of 2.46% and a return on equity of 3.76%. On average, sell-side analysts anticipate that Forterra will post 11.9888346 earnings per share for the current fiscal year.

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.