Ibstock (IBST) Upgraded at Peel Hunt
Ibstock (LON:IBST) was upgraded by investment analysts at Peel Hunt to a “buy” rating in a research report issued on Wednesday. The firm currently has a GBX 285 ($3.84) price objective on the stock, up from their prior price objective of GBX 265 ($3.57). Peel Hunt’s price target would indicate a potential upside of 16.57% from the stock’s current price.
A number of other brokerages have also commented on IBST. Barclays lowered shares of Ibstock to an “equal weight” rating and set a GBX 245 ($3.30) price objective on the stock. in a research report on Wednesday, September 20th. Berenberg Bank reissued a “buy” rating and issued a GBX 310 ($4.17) price objective on shares of Ibstock in a research report on Friday, August 18th. Numis Securities reissued an “add” rating and issued a GBX 270 ($3.63) price objective on shares of Ibstock in a research report on Friday, August 11th. Beaufort Securities reissued a “buy” rating on shares of Ibstock in a research report on Friday, August 11th. Finally, Jefferies Group reissued a “buy” rating and issued a GBX 300 ($4.04) price objective on shares of Ibstock in a research report on Tuesday, September 19th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Ibstock presently has a consensus rating of “Buy” and an average target price of GBX 269.67 ($3.63).
Shares of Ibstock (IBST) traded up GBX 1.18 ($0.02) during mid-day trading on Wednesday, hitting GBX 244.48 ($3.29). 818,988 shares of the stock were exchanged, compared to its average volume of 805,266. Ibstock has a twelve month low of GBX 173.90 ($2.34) and a twelve month high of GBX 261 ($3.51).
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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