Forterra Inc (FRTA) Given Consensus Rating of “Hold” by Analysts
Shares of Forterra Inc (NASDAQ:FRTA) have been assigned an average recommendation of “Hold” from the eleven research firms that are presently covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $14.88.
Several research analysts recently commented on the stock. Royal Bank Of Canada reiterated a “hold” rating and set a $10.00 price objective on shares of Forterra in a research note on Wednesday, August 9th. Citigroup Inc. reduced their price objective on shares of Forterra from $8.50 to $4.00 and set a “buy” rating for the company in a research note on Monday, August 14th. ValuEngine upgraded shares of Forterra from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. Zacks Investment Research lowered shares of Forterra from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Finally, Barclays PLC lowered shares of Forterra from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $15.00 to $4.00 in a research note on Friday, August 11th.
In related news, insider Lori M. Browne purchased 10,000 shares of the business’s stock in a transaction on Monday, September 11th. The shares were acquired at an average price of $4.27 per share, for a total transaction of $42,700.00. Following the purchase, the insider now owns 27,057 shares of the company’s stock, valued at approximately $115,533.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO William Matthew Brown purchased 22,200 shares of the business’s stock in a transaction on Monday, August 14th. The shares were bought at an average price of $4.80 per share, for a total transaction of $106,560.00. Following the purchase, the chief financial officer now directly owns 47,501 shares in the company, valued at approximately $228,004.80. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 173,774 shares of company stock valued at $739,476. 0.33% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the business. Voya Investment Management LLC acquired a new position in Forterra during the 2nd quarter valued at approximately $104,000. Credit Agricole S A acquired a new position in Forterra during the 1st quarter valued at approximately $139,000. Rhumbline Advisers increased its stake in Forterra by 28.7% during the 2nd quarter. Rhumbline Advisers now owns 19,598 shares of the construction company’s stock valued at $161,000 after purchasing an additional 4,365 shares in the last quarter. American International Group Inc. acquired a new position in Forterra during the 1st quarter valued at approximately $217,000. Finally, Taylor Asset Management Inc. acquired a new position in Forterra during the 2nd quarter valued at approximately $240,000.
Shares of Forterra (FRTA) traded down 7.85% during midday trading on Friday, hitting $4.11. 2,856,016 shares of the company traded hands. The company has a 50-day moving average price of $4.38 and a 200-day moving average price of $11.41. The stock’s market capitalization is $263.87 million. Forterra has a 52 week low of $3.85 and a 52 week high of $22.76.
Forterra (NASDAQ:FRTA) last announced its quarterly earnings results on Thursday, August 10th. The construction company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.11). The business had revenue of $436.69 million during the quarter, compared to analysts’ expectations of $449.68 million. Forterra had a negative return on equity of 45.03% and a negative net margin of 4.72%. Analysts anticipate that Forterra will post ($0.50) earnings per share for the current fiscal year.
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