JPMorgan Chase & Co. Boosts Ibstock (LON:IBST) Price Target to GBX 295
Ibstock (LON:IBST) had its price objective lifted by JPMorgan Chase & Co. from GBX 293 ($3.85) to GBX 295 ($3.88) in a report published on Thursday, Stock Target Advisor reports. The brokerage currently has an overweight rating on the stock.
A number of other research analysts have also recently commented on the company. Peel Hunt reaffirmed an add rating and issued a GBX 275 ($3.62) price target (down previously from GBX 280 ($3.68)) on shares of Ibstock in a research note on Tuesday, March 3rd. Jefferies Financial Group upped their price objective on shares of Ibstock from GBX 268 ($3.53) to GBX 310 ($4.08) and gave the stock a hold rating in a research report on Wednesday, February 5th. Deutsche Bank assumed coverage on shares of Ibstock in a research note on Friday, December 6th. They set a buy rating and a GBX 289 ($3.80) price objective on the stock. Berenberg Bank raised their target price on shares of Ibstock from GBX 310 ($4.08) to GBX 340 ($4.47) and gave the company a buy rating in a report on Friday, January 24th. Finally, Canaccord Genuity reissued a hold rating and issued a GBX 260 ($3.42) target price on shares of Ibstock in a report on Tuesday, November 19th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average target price of GBX 278.50 ($3.66).
Ibstock stock traded down GBX 8.80 ($0.12) during mid-day trading on Thursday, reaching GBX 225.60 ($2.97). 2,595,444 shares of the company were exchanged, compared to its average volume of 1,100,000. The company has a fifty day simple moving average of GBX 293.90 and a 200-day simple moving average of GBX 265.38. Ibstock has a 12 month low of GBX 207 ($2.72) and a 12 month high of GBX 323.98 ($4.26). The company has a debt-to-equity ratio of 28.00, a current ratio of 1.68 and a quick ratio of 0.99. The firm has a market cap of $923.29 million and a PE ratio of 13.67.
The firm also recently announced a dividend, which will be paid on Monday, June 8th. Shareholders of record on Thursday, May 7th will be issued a GBX 6.50 ($0.09) dividend. This represents a dividend yield of 2.58%. The ex-dividend date is Thursday, May 7th. Ibstock’s dividend payout ratio is presently 0.61%.
In other Ibstock news, insider Chris McLeish purchased 30,311 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were bought at an average price of GBX 246 ($3.24) per share, for a total transaction of £74,565.06 ($98,086.11).
Ibstock plc manufactures and sells a range of clay and concrete products in the United Kingdom and the United States. Its principal products include clay bricks, brick components, concrete roof tiles, concrete stone masonry substitutes, concrete fencing, pre-stressed concrete, and concrete rail products.
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