FORTERRA INC (NASDAQ:FRTA) – Equities researchers at Seaport Global Securities decreased their Q2 2017 earnings estimates for FORTERRA INC in a report released on Friday. Seaport Global Securities analyst R. Cassil now expects that the construction company will earn $0.03 per share for the quarter, down from their prior forecast of $0.06. Seaport Global Securities currently has a “Buy” rating and a $23.00 target price on the stock. Seaport Global Securities also issued estimates for FORTERRA INC’s Q3 2017 earnings at $0.28 EPS, Q2 2018 earnings at $0.27 EPS, Q3 2018 earnings at $0.50 EPS, Q4 2018 earnings at $0.04 EPS and FY2018 earnings at $0.73 EPS.

A number of other research analysts also recently commented on FRTA. Zacks Investment Research downgraded FORTERRA INC from a “hold” rating to a “sell” rating in a research note on Monday, March 20th. Royal Bank Of Canada restated a “buy” rating and set a $23.00 price objective on shares of FORTERRA INC in a research note on Friday, March 24th. Citigroup Inc. upped their price objective on FORTERRA INC from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, April 3rd. SunTrust Banks, Inc. downgraded FORTERRA INC from a “buy” rating to a “hold” rating and set a $14.00 price objective for the company. in a research note on Tuesday, May 16th. Finally, Barclays PLC restated an “overweight” rating and set a $18.00 price objective (down from $23.00) on shares of FORTERRA INC in a research note on Wednesday, May 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. FORTERRA INC presently has an average rating of “Hold” and an average price target of $17.61.

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Shares of FORTERRA INC (NASDAQ:FRTA) opened at 8.47 on Monday. FORTERRA INC has a one year low of $6.01 and a one year high of $22.76. The company’s 50 day moving average price is $8.77 and its 200 day moving average price is $16.65. The firm’s market capitalization is $543.25 million.

FORTERRA INC (NASDAQ:FRTA) last issued its quarterly earnings results on Monday, May 15th. The construction company reported ($0.31) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by $0.24. The company had revenue of $338.30 million during the quarter, compared to analysts’ expectations of $340.24 million.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Dallas Securities Inc. boosted its position in FORTERRA INC by 25.6% in the first quarter. First Dallas Securities Inc. now owns 49,725 shares of the construction company’s stock valued at $970,000 after buying an additional 10,150 shares during the last quarter. Pictet Asset Management Ltd. boosted its position in FORTERRA INC by 6.2% in the first quarter. Pictet Asset Management Ltd. now owns 1,817,218 shares of the construction company’s stock valued at $35,436,000 after buying an additional 105,743 shares during the last quarter. Bank of New York Mellon Corp boosted its position in FORTERRA INC by 16.2% in the first quarter. Bank of New York Mellon Corp now owns 59,939 shares of the construction company’s stock valued at $1,169,000 after buying an additional 8,373 shares during the last quarter. Stoneridge Investment Partners LLC acquired a new position in FORTERRA INC during the first quarter valued at about $406,000. Finally, Wells Fargo & Company MN boosted its position in FORTERRA INC by 168.4% in the first quarter. Wells Fargo & Company MN now owns 107,031 shares of the construction company’s stock valued at $2,087,000 after buying an additional 67,149 shares during the last quarter. 99.76% of the stock is owned by institutional investors.

FORTERRA INC Company Profile

Earnings History and Estimates for FORTERRA INC (NASDAQ:FRTA)

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