Forterra Inc (FRTA) Given Consensus Recommendation of “Hold” by Brokerages
Forterra Inc (NASDAQ:FRTA) has been assigned a consensus rating of “Hold” from the eleven research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $14.06.
Several equities research analysts have weighed in on FRTA shares. Barclays PLC reaffirmed a “buy” rating and issued a $15.00 target price (down from $18.00) on shares of Forterra in a research report on Monday, July 24th. ValuEngine raised Forterra from a “hold” rating to a “buy” rating in a research report on Friday, August 11th. Citigroup Inc. dropped their target price on Forterra from $8.50 to $4.00 and set a “buy” rating on the stock in a research report on Monday, August 14th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $10.00 target price on shares of Forterra in a research report on Wednesday, August 9th. Finally, Zacks Investment Research raised Forterra from a “sell” rating to a “hold” rating in a research report on Thursday, July 20th.
ILLEGAL ACTIVITY WARNING: This news story was first posted by American Banking News and is the property of of American Banking News. If you are accessing this news story on another site, it was copied illegally and reposted in violation of United States and international trademark & copyright laws. The legal version of this news story can be read at https://www.americanbankingnews.com/2017/10/11/forterra-inc-frta-given-consensus-recommendation-of-hold-by-brokerages.html.
Shares of Forterra (FRTA) remained flat at $5.41 during trading on Wednesday. 1,027,415 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $4.54 and its 200 day moving average price is $4.54. Forterra has a one year low of $3.02 and a one year high of $22.76. The stock’s market cap is $347.34 million.
Forterra (NASDAQ:FRTA) last issued its earnings results on Thursday, August 10th. The construction company reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.11). Forterra had a negative return on equity of 45.03% and a negative net margin of 4.72%. The company had revenue of $436.69 million during the quarter, compared to analyst estimates of $449.68 million. On average, equities analysts anticipate that Forterra will post ($0.53) earnings per share for the current year.
In other Forterra news, Director John R. Mcpherson purchased 23,449 shares of the stock in a transaction dated Friday, September 15th. The shares were bought at an average cost of $4.29 per share, with a total value of $100,596.21. Following the completion of the acquisition, the director now owns 24,579 shares of the company’s stock, valued at $105,443.91. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CFO William Matthew Brown purchased 22,200 shares of the stock in a transaction dated Monday, August 14th. The shares were acquired at an average cost of $4.80 per share, for a total transaction of $106,560.00. Following the completion of the acquisition, the chief financial officer now directly owns 47,501 shares of the company’s stock, valued at approximately $228,004.80. The disclosure for this purchase can be found here. Insiders have bought 173,774 shares of company stock worth $739,476 over the last three months. Corporate insiders own 0.33% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Taylor Asset Management Inc. acquired a new position in shares of Forterra during the second quarter valued at $240,000. Schwab Charles Investment Management Inc. grew its holdings in Forterra by 5.9% during the first quarter. Schwab Charles Investment Management Inc. now owns 67,654 shares of the construction company’s stock worth $1,320,000 after acquiring an additional 3,762 shares during the period. Capital World Investors acquired a new position in Forterra during the second quarter worth about $25,249,000. American International Group Inc. acquired a new position in Forterra during the first quarter worth about $217,000. Finally, FMR LLC acquired a new position in Forterra during the first quarter worth about $31,062,000.
Receive News & Ratings for Forterra Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forterra Inc and related companies with MarketBeat.com's FREE daily email newsletter.