Vicat share falls nearly 8% over a week and drops back below its moving averages

A decline of 2.42% that takes the stock below its three key moving averages

Vicat closed at €60.40, down 2.42% compared to Friday's last trading session. This movement is part of an SBF 120 that is also falling 0.85% at close, but the stock is underperforming its benchmark index. Over the past week, the decline reached 7.79%, largely erasing the rebound displayed in late August. The price is now below the 20-day MA at €64.41 (variance of -6.23%), below the 50-day MA at €63.92 (variance of -5.51%) and below the 200-day MA at €67.37 (variance of -10.35%).

The stock had briefly climbed back above its 50-day MA in early September, before declining again. The RSI at 40 does not yet signal outright oversold conditions, but it reflects persistent selling pressure over several sessions. In this context, Brent at $107.65 per barrel (+2.91% in session) indirectly weighs on the group's outlook, as the cement sector is sensitive to energy costs, a risk explicitly identified by Vicat when publishing its half-year results on July 30, 2026.

Solid fundamentals in H1 2026, but cost pressures expected in the second half

When publishing its half-year results on July 30, 2026, Vicat raised its full-year targets, banking on growth of +7% to +9% on a constant perimeter and currency basis. However, the group had warned that the increase in energy costs should materialize more strongly in the second half, a caveat that gains relevance with Brent having climbed back above $107. From a valuation perspective, the stock is trading around 9 times the earnings expected for the current fiscal year and 8.1 times those of the following fiscal year, according to the consensus of surveyed analysts, with EPS growth anticipated at +11.8% from one fiscal year to the next.

This profile remains attractive in absolute value, but the current technical configuration, with the price 10.35% below the 200-day MA, illustrates the pressure weighing on the stock since the start of the school year. The resistance at €68.70 represents a significant variance compared to current levels.