Forterra (LON:FORT) Shares Cross Above 50 Day Moving Average - Here's What Happened

Shares of Forterra plc (LON:FORT - Get Free Report) passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of GBX 173.58 ($2.32) and traded as high as GBX 176 ($2.35). Forterra shares last traded at GBX 171.80 ($2.30), with a volume of 58,230 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on FORT shares. Berenberg Bank restated a "hold" rating and issued a GBX 170 ($2.27) target price on shares of Forterra in a report on Wednesday, August 7th. Jefferies Financial Group restated a "hold" rating and issued a GBX 162.60 ($2.17) price objective on shares of Forterra in a research report on Thursday, June 27th. Finally, Royal Bank of Canada initiated coverage on shares of Forterra in a report on Thursday, July 4th. They set an "outperform" rating and a GBX 210 ($2.81) target price for the company.

Forterra Stock Performance

The company has a market cap of £355.45 million, a P/E ratio of 4,295.00, a P/E/G ratio of 0.30 and a beta of 1.25. The business has a fifty day moving average of GBX 173.58 and a 200 day moving average of GBX 170.50. The company has a quick ratio of 0.82, a current ratio of 1.79 and a debt-to-equity ratio of 62.10.

Forterra Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, October 11th. Stockholders of record on Thursday, September 19th will be given a GBX 1 ($0.01) dividend. The ex-dividend date is Thursday, September 19th. This represents a dividend yield of 0.55%. Forterra's dividend payout ratio is 7,500.00%.

About Forterra

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.