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House building feels like a good place to invest at the moment. I see active building sites over Suffolk. I thought i read we could not keep up with demand.
At least it's come up from the 145/6 when it crashed. Feel this will be a slow steady plodder for a few months like it was in the summer
Starting to realise the stock market clearly doesnt like this share, hardly moving. Whats everyone else think?
Plus, their target price is over 10% higher than the current SP. We'll always need bricks and concrete at least for the foreseeable future. Ibstock is well placed to privide them. This sp is a good buy.
Couldn't agree more Finley1, I'm in the construction trade (QS) and the industry is busy at the moment and the Brick lead in times have gone up, which means demand is still high.
Deuch bank are the last bank I would listen too......
I think anyone who takes notice of Deuch Bank shouldn’t be investing. The banks a basket case.
It’s lazy journalism on their part. Volumes of product sold Ibstock at 88/90% , pre Covid. Do you really think that warrants their negative slant.
People /investors need to stop listening to these overpaid idiots and listen to what the company is saying.
Hi Russ
Yes I noticed Deutsche Banks downgrade of the SP. Not sure it warranted a 10% drop.
We just need to ride the storm as the saying goes, Construction will be key to any recession recovery and so will Ibstock. I topped up yesterday. Not a great amount but keep reducing my average. GLA
Ibstock PLC (LON:IBST) has been downgraded to ‘hold’ from ‘buy’ by analysts at Deutsche Bank, who also decided to cut their forecasts following a trading update from the brick and concrete maker last week.
In a note on Monday, the bank also lowered its target price for the FTSE 250 firm to 168p from 183p alongside a lowering of their pre-tax profit forecasts for both 2020 and 2021.
READ: Ibstock sees demand recover in third quarter amid improved housebuilding activity
Analysts added that while they did not think the shares were expensive, they believed they were “up with events”.
The reason for today's fall was Deutsche banks downgrade from buy to neutral...but late in the day the CFO bought and I'm tempted to do the same
Surprised with the drop here as solid results all things considered, and residential building should not be danpened again. Unless builders are on lockdown now as well?
Hopefully, this will change the sentiment. Just think this share has been overlooked as a solid value stock. The CFO clearly sees the potential. Only a matter of time. Todays downturn was completely unwarranted IMO and I agree with Newby - this will bounce back - patience needed, it may not be this week.
I think the cfo buying today is a good sign the recent chatter regarding a placing is not going to happen.I think also the recent run up on share price was with the understanding that the dvi would be reinstated . So I think perhaps positions have been sold due to this not happening.
If your a long term holder then follow the money, it’s a BUY
That's a bit of comfort chief financial officer buying shares :-)
I'm expecting us to recoup today's lost by EOW.
All the Ibstock plants (clay and concrete) are running flat out at the moment.
Think people are forgetting the construction industry isnt going into lockdown.....
If Ibstock can still achieve the 50m profit its still been a very good year compared to others......
Ibstock PLC on Wednesday said it expects to report a sharp fall in earnings for 2020, despite the improvement in the FTSE 250 clay bricks manufacturer's third-quarter performance.
tp 100-120 now imv
#nosupport
why are we tanking nearly 10% at one point, more than airlines on the lockdown announcement?
Well if it falls back to 140 i'll definately have some more !!!
yep ..
retest 140p imv
given multiples v FORT or MBH
Regret buying these already....think 1.64 might have been too much to pay at the moment....
Unfortunately they released a decent update on a day that was all about fears of lockdowns....yet if there is a lockdown it wont be as severe as 1st one and housebuilders etc will continue working and need bricks