Forterra PLC (FORT) Earns Buy Rating from Analysts at Peel Hunt
Peel Hunt assumed coverage on shares of Forterra PLC (LON:FORT) in a research report issued on Tuesday. The firm set a “buy” rating and a GBX 220 ($2.68) price target on the stock. Peel Hunt’s price target would suggest a potential upside of 26.44% from the stock’s current price.
FORT has been the subject of several other research reports. Deutsche Bank AG dropped their price objective on Forterra PLC from GBX 250 ($3.05) to GBX 213 ($2.60) and set a “buy” rating for the company in a research note on Tuesday, July 26th. Credit Suisse Group AG reissued an “outperform” rating and set a GBX 195 ($2.38) price objective on shares of Forterra PLC in a research note on Friday, September 9th. Finally, Numis Securities Ltd initiated coverage on Forterra PLC in a research note on Tuesday, September 13th. They set a “buy” rating and a GBX 225 ($2.74) price objective for the company. Five equities research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and an average price target of GBX 216.40 ($2.64).
Shares of Forterra PLC (LON:FORT) opened at 174.00 on Tuesday. The company’s 50 day moving average price is GBX 168.04 and its 200 day moving average price is GBX 158.53. The company’s market cap is GBX 348.69 million. Forterra PLC has a 12 month low of GBX 110.00 and a 12 month high of GBX 190.00.
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The business also recently disclosed a dividend, which will be paid on Wednesday, October 19th. Stockholders of record on Thursday, September 29th will be issued a GBX 2 ($0.02) dividend. The ex-dividend date is Thursday, September 29th. This represents a dividend yield of 1.23%.
In related news, insider Harrison,Stephen acquired 3,000 shares of the firm’s stock in a transaction dated Thursday, September 8th. The shares were purchased at an average price of GBX 166 ($2.02) per share, for a total transaction of £4,980 ($6,069.47).
About Forterra PLC
Forterra plc is a United Kingdom-based producer of manufactured masonry products. The Company offers clay bricks, aircrete blocks and concrete blocks. It offers Fletton brick under the London Brick brand. It offers a range of building products, including engineered precast concrete flooring. It operates approximately nine brick manufacturing facilities in the United Kingdom with a total production capacity of approximately 570 million bricks per annum.
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