Ibstock plc (IBST) Given Outperform Rating at BNP Paribas
Ibstock plc (LON:IBST)‘s stock had its “outperform” rating reiterated by equities researchers at BNP Paribas in a research report issued to clients and investors on Thursday. They presently have a GBX 265 ($3.42) price objective on the stock. BNP Paribas’ price target points to a potential upside of 12.38% from the company’s previous close.
Several other analysts also recently issued reports on the stock. Barclays PLC reaffirmed an “overweight” rating and issued a GBX 285 ($3.68) price objective on shares of Ibstock plc in a research report on Monday. Berenberg Bank assumed coverage on shares of Ibstock plc in a research report on Friday, May 12th. They issued a “buy” rating and a GBX 310 ($4.00) price objective for the company. Jefferies Group LLC increased their price objective on shares of Ibstock plc from GBX 230 ($2.97) to GBX 240 ($3.10) and gave the company a “buy” rating in a research report on Tuesday, March 14th. Numis Securities Ltd increased their price objective on shares of Ibstock plc from GBX 195 ($2.52) to GBX 240 ($3.10) and gave the company an “add” rating in a research report on Wednesday, March 8th. Finally, Peel Hunt reaffirmed a “hold” rating and issued a GBX 190 ($2.45) price objective on shares of Ibstock plc in a research report on Tuesday, March 7th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Ibstock plc presently has an average rating of “Buy” and a consensus target price of GBX 247.50 ($3.19).
Ibstock plc (LON:IBST) opened at 233.50 on Thursday. Ibstock plc has a 12-month low of GBX 113.20 and a 12-month high of GBX 242.80. The firm’s market cap is GBX 948.75 million. The firm’s 50-day moving average is GBX 220.87 and its 200 day moving average is GBX 196.76.
The business also recently declared a dividend, which will be paid on Friday, June 9th. Stockholders of record on Thursday, May 11th will be given a dividend of GBX 5.30 ($0.07) per share. The ex-dividend date of this dividend is Thursday, May 11th. This represents a dividend yield of 2.52%. This is an increase from Ibstock plc’s previous dividend of $2.40.
In related news, insider Justin Read purchased 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 29th. The stock was acquired at an average price of GBX 210 ($2.71) per share, with a total value of £21,000 ($27,107.27).
Ibstock plc Company Profile
Ibstock plc is a United Kingdom-based company, which is engaged in manufacturing of clay bricks and concrete products. The Company’s segments are the UK and the US. The Company’s principal products include clay bricks, brick components, concrete stone masonry substitutes, concrete fencing, pre-stressed concrete products and concrete rail products.
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