Forterra (LON:FORT) Stock Price Crosses Above 50 Day Moving Average – Here’s Why

Forterra plc (LON:FORT)’s stock price passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of GBX 173.02 ($2.26) and traded as high as GBX 177 ($2.31). Forterra shares last traded at GBX 176.60 ($2.31), with a volume of 180,699 shares changing hands.

Analysts Set New Price Targets

A number of research firms recently commented on FORT. Royal Bank of Canada began coverage on Forterra in a research report on Thursday, July 4th. They set an “outperform” rating and a GBX 210 ($2.74) price target on the stock. Berenberg Bank reissued a “hold” rating and set a GBX 170 ($2.22) price objective on shares of Forterra in a report on Wednesday, August 7th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a GBX 162.60 ($2.12) target price on shares of Forterra in a research note on Thursday, June 27th.

Forterra Price Performance

The company has a market capitalization of £369.11 million, a price-to-earnings ratio of 4,415.00, a PEG ratio of 0.30 and a beta of 1.25. The company has a current ratio of 1.79, a quick ratio of 0.82 and a debt-to-equity ratio of 62.10. The company has a 50 day moving average price of GBX 173.02 and a 200 day moving average price of GBX 170.27.

Forterra Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, October 11th. Investors of record on Thursday, September 19th were given a GBX 1 ($0.01) dividend. The ex-dividend date was Thursday, September 19th. This represents a yield of 0.55%. Forterra’s payout ratio 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.