Ibstock (LON:IBST) Shares Break Below 50-Day Moving Average – Here’s What Happened

Ibstock plc (LON:IBST) passed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of GBX 87.69 and traded as low as GBX 74.50. Ibstock shares last traded at GBX 75.60, with a volume of 771,658 shares.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a GBX 100 price target on shares of Ibstock in a report on Thursday, August 6th. 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. Jefferies Financial Group reduced their target price on Ibstock from GBX 115 to GBX 90 and set a “hold” rating on the stock in a research note on Monday, August 10th. Finally, Royal Bank Of Canada decreased their target price on Ibstock from GBX 160 to GBX 130 and set an “outperform” rating for the company in a report 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of GBX 113.

Ibstock Stock Down 1.4%

The stock’s 50-day moving average price is GBX 86.80 and its two-hundred day moving average price is GBX 95.16. The stock has a market capitalization of £291.13 million, a PE ratio of -12.93, 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 quick ratio of 1.19 and a current ratio of 1.28.

Ibstock (LON:IBST) last issued its quarterly 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, analysts expect that Ibstock plc will post 11.0089552 EPS for the current fiscal 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.