Ibstock (LON:IBST) Earns Buy Rating from Peel Hunt

Ibstock (LON:IBST)‘s stock had its “buy” rating reaffirmed by investment analysts at Peel Hunt in a research note issued to investors on Wednesday,Digital Look reports. They currently have a GBX 125 price target on the stock. Peel Hunt’s price objective suggests a potential upside of 33.90% from the stock’s previous close.

Several other equities research analysts have also commented on IBST. Royal Bank Of Canada decreased their price target on Ibstock from GBX 160 to GBX 130 and set an “outperform” rating on the stock in a research note on Thursday, July 30th. Berenberg Bank dropped their price objective on Ibstock from GBX 135 to GBX 120 and set a “hold” rating for the company in a research report on Friday, May 22nd. Finally, Jefferies Financial Group cut their target price on shares of Ibstock from GBX 133 to GBX 127 and set a “buy” rating for the company in a research note on Monday, April 20th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Ibstock presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 122.40.

Ibstock Price Performance

Shares of Ibstock stock traded down GBX 4.45 during trading on Wednesday, reaching GBX 93.35. The company’s stock had a trading volume of 4,156,197 shares, compared to its average volume of 5,235,819. The company has a market capitalization of £368.75 million, a P/E ratio of 116.69, a price-to-earnings-growth ratio of 0.47 and a beta of 0.86. Ibstock has a 12-month low of GBX 87.65 and a 12-month high of GBX 159.80. The business has a 50 day moving average price of GBX 94.67 and a 200-day moving average price of GBX 107.28. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 44.59.

Ibstock News Roundup

Here are the key news stories impacting Ibstock this week:

• Negative Sentiment: First-half revenue fell 15% and Ibstock reported a £27 million loss, as subdued housing construction reduced demand for bricks and other building products. Ibstock falls into red and sees revenue drop 15% in half-years Ibstock makes £27m loss as brick demand dives
• Negative Sentiment: The housing-market slowdown significantly weakened operating performance, with coverage describing a plunge in revenue and profit and a deterioration in construction-market conditions. Ibstock Reports Lower First-Half Revenue as Housing Market Weakness Weighs on Results Ibstock’s revenues and profits plunge
• Negative Sentiment: Ibstock has reduced its dividend, making the results less attractive to income-focused investors and signalling management’s caution about near-term cash generation. Ibstock reports £27m loss and slashes dividend as UK housebuilding slump deepens
• Negative Sentiment: The company issued a cautious outlook and warned that full-year profit would be affected if weak construction demand persists. This raises the risk of further earnings downgrades. Ibstock gives cautious outlook amid subdued construction market UK’s Ibstock warns on full-year profit as construction market stays weak

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.