Forterra (LON:FORT) Stock Price Passes Above 50-Day Moving Average – Here’s What Happened

Forterra plc (LON:FORT)’s stock price crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of GBX 173.58 ($2.32) and traded as high as GBX 176 ($2.35). Forterra shares last traded at GBX 171.80 ($2.30), with a volume of 58,230 shares trading hands.

Analysts Set New Price Targets

Several research analysts have commented on FORT shares. Berenberg Bank restated a “hold” rating and issued a GBX 170 ($2.27) target price on shares of Forterra in a research note on Wednesday, August 7th. Jefferies Financial Group restated a “hold” rating and issued a GBX 162.60 ($2.17) price objective on shares of Forterra in a research report on Thursday, June 27th. Finally, Royal Bank of Canada began coverage on shares of Forterra in a report on Thursday, July 4th. They set an “outperform” rating and a GBX 210 ($2.81) target price on the stock.

Forterra Price Performance

The business has a 50 day simple moving average of GBX 173.58 and a two-hundred day simple moving average of GBX 170.50. The firm has a market capitalization of £355.45 million, a P/E ratio of 4,295.00, a price-to-earnings-growth ratio of 0.30 and a beta of 1.25. The company has a debt-to-equity ratio of 62.10, a quick ratio of 0.82 and a current ratio of 1.79.

Forterra Cuts Dividend

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

Forterra Company Profile

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.