Ibstock (LON:IBST) Stock Jumps 23.5% – Time to Buy?

Ibstock plc (LON:IBST) shares traded up 23.5% during trading on Monday. The stock traded as high as GBX 89.30 and last traded at GBX 88.40. Approximately 10,338,901 shares traded hands during trading, an increase of 102% from the average daily volume of 5,107,222 shares. The stock had previously closed at GBX 71.60.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on IBST shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a GBX 100 price objective on shares of Ibstock in a report on Thursday, August 6th. Peel Hunt reiterated a “buy” rating and issued a GBX 125 price target on shares of Ibstock in a research report on Wednesday, August 5th. Royal Bank Of Canada decreased their price target on shares of Ibstock from GBX 160 to GBX 130 and set an “outperform” rating for the company in a research note on Thursday, July 30th. Finally, Jefferies Financial Group lowered their price objective on shares of Ibstock from GBX 115 to GBX 90 and set a “hold” rating on the stock in a research report on Monday, August 10th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of GBX 113.

Ibstock Stock Performance

The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 54.38. The stock has a fifty day moving average price of GBX 86.32 and a 200-day moving average price of GBX 94.94. The firm has a market cap of £349.19 million, a price-to-earnings ratio of -15.51, a price-to-earnings-growth ratio of 0.47 and a beta of 0.84.

Ibstock (LON:IBST) last issued its quarterly earnings results on Wednesday, August 5th. The company reported GBX 0.70 earnings per share for the quarter. Ibstock had a negative return on equity of 6.19% and a negative net margin of 6.67%. On average, analysts expect that Ibstock plc will post 11.0089552 earnings per share for the current fiscal year.

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.