Ibstock (LON:IBST) Reaches New 12-Month High – Here’s Why

Ibstock plc (LON:IBST)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as GBX 198 ($2.59) and last traded at GBX 193.20 ($2.52), with a volume of 36686 shares. The stock had previously closed at GBX 195.80 ($2.56).

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Royal Bank of Canada restated an “outperform” rating and set a GBX 200 ($2.61) target price on shares of Ibstock in a research note on Thursday, July 4th. Jefferies Financial Group lifted their target price on Ibstock from GBX 143 ($1.87) to GBX 150 ($1.96) and gave the company a “hold” rating in a research report on Thursday, June 27th.

Ibstock Stock Up 0.7 %

The stock has a 50-day moving average price of GBX 183.69 and a 200-day moving average price of GBX 170.43. The company has a market capitalization of £776.69 million, a P/E ratio of 9,860.00, a P/E/G ratio of 0.47 and a beta of 1.34. The company has a debt-to-equity ratio of 46.91, a current ratio of 1.37 and a quick ratio of 1.19.

Ibstock Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 22nd were paid a GBX 1.50 ($0.02) dividend. This represents a dividend yield of 0.87%. The ex-dividend date was Thursday, August 22nd. Ibstock’s payout ratio is 25,000.00%.

About Ibstock

Ibstock plc manufactures and sells clay and concrete building products and solutions to customers in the residential construction sector in the United Kingdom. The company offers bricks and masonry, which includes facing and engineering bricks, brick slips, special shaped bricks, walling stone, architectural masonry, prefabricated components, eco-habitats, and padstones and lintels, as well as façade systems; roofing products comprising roof tiles and accessories, and chimneys; and flooring and lintels, such as beam and block flooring, insulated flooring, hollowcore, and screed rails.