Peel Hunt Reaffirms Hold Rating for Ibstock plc (LON:IBST)

Ibstock plc (LON:IBST)‘s stock had its “hold” rating reaffirmed by analysts at Peel Hunt in a note issued to investors on Thursday. They currently have a GBX 265 ($3.45) price target on the stock. Peel Hunt’s price objective would suggest a potential upside of 17.15% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Berenberg Bank started coverage on shares of Ibstock plc in a report on Friday, May 12th. They set a “buy” rating and a GBX 310 ($4.04) target price for the company. Deutsche Bank AG reaffirmed a “buy” rating on shares of Ibstock plc in a report on Wednesday, July 19th. Jefferies Group LLC upped their target price on shares of Ibstock plc from GBX 240 ($3.13) to GBX 290 ($3.78) and gave the company a “buy” rating in a report on Monday, June 26th. BNP Paribas reaffirmed an “outperform” rating and set a GBX 280 ($3.65) target price on shares of Ibstock plc in a report on Thursday, July 20th. Finally, Barclays PLC reaffirmed an “overweight” rating on shares of Ibstock plc in a report on Friday, July 7th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Ibstock plc presently has an average rating of “Buy” and a consensus price target of GBX 268.22 ($3.49).

Ibstock plc (IBST) opened at 226.20 on Thursday. Ibstock plc has a 1-year low of GBX 156.64 and a 1-year high of GBX 261.00. The company has a 50-day moving average of GBX 246.83 and a 200-day moving average of GBX 225.49. The stock’s market capitalization is GBX 919.09 million.

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In other news, insider Kevin Sims sold 2,000,000 shares of the stock in a transaction on Thursday, August 10th. The shares were sold at an average price of GBX 241 ($3.14), for a total value of £4,820,000 ($6,276,858.97). Also, insider Justin Read acquired 7,500 shares of Ibstock plc stock in a transaction dated Friday, August 11th. The stock was purchased at an average cost of GBX 227 ($2.96) per share, with a total value of £17,025 ($22,170.86).

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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