Forterra (LON:FORT) Stock Crosses Below 50-Day Moving Average – What’s Next?

Forterra plc (LON:FORT) crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of GBX 151.96 and traded as low as GBX 134.60. Forterra shares last traded at GBX 134.80, with a volume of 523,303 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered 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. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 204 price target on shares of Forterra in a research report on Wednesday, May 20th. Berenberg Bank decreased their price target on shares of Forterra from GBX 220 to GBX 170 and set a “hold” rating for the company in a research report on Wednesday, May 20th. Finally, Royal Bank Of Canada decreased their price target on shares of Forterra from GBX 220 to GBX 195 and set an “outperform” rating for the company in a research report on Wednesday, May 20th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of GBX 209.83.

Forterra Price Performance

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 stock has a market cap of £264.26 million, a price-to-earnings ratio of 16.00, a price-to-earnings-growth ratio of 0.30 and a beta of 0.75. The business’s fifty day simple moving average is GBX 151.96 and its 200 day simple moving average is GBX 169.48.

Forterra (LON:FORT) last issued its quarterly earnings data on Wednesday, March 11th. The company reported GBX 12.60 EPS for the quarter. Forterra had a net margin of 4.40% and a return on equity of 7.33%. Research analysts predict that Forterra plc will post 11.9888346 EPS 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.