Saint-Gobain stock breaks through support at €69.04 and continues to decline
Saint-Gobain is facing renewed selling pressure on Thursday, as the CAC 40 itself loses over one point during the session. The construction materials and glazing manufacturer has now accumulated a decline of nearly 15% over one month, amid a particularly deteriorated building sector outlook in Europe.
A 3% decline that pushes the stock further below its moving averages
The Saint-Gobain stock is down 3.1% during the session at €66.90, ranking among the biggest declines on the CAC 40, in a Paris market itself oriented downward. The stock is trading 5.97% below its 20-day moving average (€71.15) and nearly 13% below its 50-day moving average (€76.73), illustrating the depth of the downtrend underway for several weeks. Over one year, the decline reaches 27%.
The RSI at 35 reflects persistent selling pressure without however signaling extreme oversold conditions, unlike the levels close to 27 observed during the late September rebound. Resistance at €82.30 remains very far above the current price, while the previous support at €69.04 (yesterday's closing price) gave way at the opening. Fundamentals are not helping: the construction sentiment stands at -17.2 in France in September, with housing permits declining 9.5% over twelve months and a net housing credit flow negative at -960 million euros.
Rothschild & Co Redburn maintains buy rating but lowers target price to €101, representing 51% upside potential
Despite the stock's decline, analysts are not abandoning their positive stance. Rothschild & Co Redburn maintained its buy opinion on September 29 while lowering its price target from €103 to €101. At the current price of €66.90, this represents potential upside of nearly 51%, a sign that the research firm believes the decline is excessive relative to the group's long-term fundamentals.
Saint-Gobain is also conducting a significant share buyback program: €791 million in shares were repurchased over twelve months, representing 2.4% of market capitalization according to the latest issuer declaration dated September 28, 2026. This technical support has so far not been enough to stem the decline, in a macro context where inflation is accelerating in the eurozone (3.4% in France in September, 5.0% in Spain) due to the energy shock, while markets are pricing in expectations of additional ECB rate hikes.
