Forterra (LON:FORT) Shares Pass Above Fifty Day Moving Average of $175.95

Forterra plc (LON:FORT)’s stock price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of GBX 175.95 ($2.32) and traded as high as GBX 182.20 ($2.41). Forterra shares last traded at GBX 175.20 ($2.31), with a volume of 236,023 shares trading hands.

Wall Street Analysts Forecast Growth

FORT has been the subject of several analyst reports. Berenberg Bank reiterated a “hold” rating and set a GBX 170 ($2.25) price objective on shares of Forterra in a research report on Wednesday, August 7th. Royal Bank of Canada started coverage on Forterra in a research note on Thursday, July 4th. They issued an “outperform” rating and a GBX 210 ($2.77) price target for the company. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a GBX 162.60 ($2.15) price objective on shares of Forterra in a report on Thursday, June 27th.

Forterra Stock Performance

The stock has a market cap of £372.01 million, a P/E ratio of 4,380.00, a PEG ratio of 0.30 and a beta of 1.25. The company has a debt-to-equity ratio of 62.10, a current ratio of 1.79 and a quick ratio of 0.82. The company has a fifty day moving average of GBX 175.95 and a 200 day moving average of GBX 170.46.

Forterra Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, October 11th. Stockholders of record on Thursday, September 19th will be issued a GBX 1 ($0.01) dividend. The ex-dividend date is Thursday, September 19th. This represents a dividend yield of 0.55%. Forterra’s dividend payout ratio (DPR) is 7,500.00%.

About Forterra

Forterra plc engages in the manufacture and sale of building products in the United Kingdom. The company operates through three segments: Bricks, Blocks, and Bespoke Products. It offers bricks; aircrete and aggregate blocks for internal and external applications, such as foundations, floors and walls, and detailing; bespoke precast concrete products comprising jetfloor, hollowcore, beam and block, and flooring, as well as box culverts, omnia bridge decks, and retaining walls for infrastructure; and crosswall frames, stairs and landings, stadia components, and columns and beams for structural projects.