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.
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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.
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