Berenberg Bank Reiterates “Hold” Rating for Forterra (LON:FORT)

Posted by Matthew Steigler on May 24th, 2024

Berenberg Bank reaffirmed their hold rating on shares of Forterra (LON:FORT – Free Report) in a report published on Tuesday morning, MarketBeat reports. They currently have a GBX 170 ($2.16) target price on the stock.

Forterra Stock Performance

Shares of LON:FORT opened at GBX 164 ($2.08) on Tuesday. The company has a debt-to-equity ratio of 64.20, a current ratio of 1.56 and a quick ratio of 0.82. The business’s 50 day moving average price is GBX 166.89 and its 200-day moving average price is GBX 165.06. The firm has a market capitalization of £339.32 million, a PE ratio of 2,733.33, a P/E/G ratio of 0.66 and a beta of 1.24. Forterra has a 1 year low of GBX 122.20 ($1.55) and a 1 year high of GBX 198.80 ($2.53).

Forterra Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, June 13th will be paid a dividend of GBX 2 ($0.03) per share. This represents a yield of 1.14%. The ex-dividend date of this dividend is Thursday, June 13th. Forterra’s dividend payout ratio (DPR) is currently 6,666.67%.

Insiders Place Their Bets

In other Forterra news, insider Ben Guyatt sold 59,298 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of GBX 173 ($2.20), for a total transaction of £102,585.54 ($130,383.25). 9.57% of the stock is currently owned by corporate insiders.

Forterra Company Profile

(Get Free Report)

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.