Peel Hunt Begins Coverage on Ibstock plc (IBST)
Peel Hunt assumed coverage on shares of Ibstock plc (LON:IBST) in a report released on Tuesday. The brokerage set an “add” rating and a GBX 175 ($2.13) price target on the stock. Peel Hunt’s price target would indicate a potential upside of 9.51% from the company’s current price.
A number of other analysts have also commented on the stock. Numis Securities Ltd reduced their price objective on shares of Ibstock plc from GBX 235 ($2.86) to GBX 195 ($2.38) and set an “add” rating for the company in a research note on Tuesday, September 13th. Deutsche Bank AG reaffirmed a “buy” rating and set a GBX 181 ($2.21) price objective on shares of Ibstock plc in a research note on Tuesday, August 2nd. Jefferies Group upped their price objective on shares of Ibstock plc from GBX 170 ($2.07) to GBX 190 ($2.32) and gave the company a “buy” rating in a research note on Wednesday, August 10th. Barclays PLC reaffirmed an “overweight” rating and set a GBX 185 ($2.25) price objective on shares of Ibstock plc in a research note on Wednesday, September 21st. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a GBX 170 ($2.07) price objective on shares of Ibstock plc in a research note on Monday, August 8th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Ibstock plc has a consensus rating of “Buy” and a consensus price target of GBX 182.67 ($2.23).
Ibstock plc (LON:IBST) opened at 159.80 on Tuesday. The firm’s market capitalization is GBX 648.64 million. Ibstock plc has a 12 month low of GBX 113.20 and a 12 month high of GBX 227.20. The firm’s 50-day moving average is GBX 166.48 and its 200-day moving average is GBX 174.86.
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The firm also recently announced a dividend, which was paid on Friday, September 23rd. Stockholders of record on Thursday, August 18th were issued a GBX 2.40 ($0.03) dividend. The ex-dividend date was Thursday, August 18th. This represents a dividend yield of 1.57%.
About Ibstock plc
Ibstock plc (Ibstock) is a United Kingdom-based brick manufacturer. The Company manufactures clay bricks and concrete products with operations in the United Kingdom and the United States. The Company operates through four businesses: the United Kingdom business consisting of Ibstock Brick, Supreme and Forticrete, and the United States business consisting of Glen-Gery.
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