Forterra Inc (FRTA) Given New $7.00 Price Target at Barclays PLC
Forterra Inc (NASDAQ:FRTA) had its target price upped by analysts at Barclays PLC from $4.00 to $7.00 in a research report issued on Tuesday. The brokerage currently has an “equal weight” rating on the construction company’s stock. Barclays PLC’s target price indicates a potential downside of 21.79% from the company’s current price.
Several other analysts also recently commented on the company. Citigroup Inc. raised their price objective on Forterra from $4.00 to $9.00 and gave the stock a “buy” rating in a research note on Friday. Zacks Investment Research raised Forterra from a “hold” rating to a “buy” rating and set a $8.50 price objective on the stock in a research note on Thursday, November 9th. Royal Bank Of Canada raised their price objective on Forterra from $3.50 to $8.00 and gave the stock a “market perform” rating in a research note on Thursday, November 9th. Finally, ValuEngine downgraded Forterra from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $14.83.
Shares of Forterra (NASDAQ FRTA) traded up $0.41 during trading on Tuesday, reaching $8.95. The company had a trading volume of 1,511,500 shares, compared to its average volume of 864,847. Forterra has a twelve month low of $3.02 and a twelve month high of $22.76. The company has a debt-to-equity ratio of 15.19, a quick ratio of 1.43 and a current ratio of 2.56.
In other news, Director Chadwick S. Suss bought 12,125 shares of the stock in a transaction on Tuesday, September 12th. The stock was purchased at an average price of $4.60 per share, for a total transaction of $55,775.00. Following the acquisition, the director now owns 12,125 shares in the company, valued at $55,775. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John R. Mcpherson bought 23,449 shares of the stock in a transaction on Friday, September 15th. The shares were purchased at an average price of $4.29 per share, with a total value of $100,596.21. Following the acquisition, the director now owns 24,579 shares in the company, valued at approximately $105,443.91. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 151,574 shares of company stock valued at $632,916. Corporate insiders own 0.33% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in FRTA. Voya Investment Management LLC bought a new position in Forterra during the 2nd quarter worth about $104,000. Paradigm Capital Management Inc. NY bought a new position in Forterra during the 3rd quarter worth about $137,000. Rhumbline Advisers increased its holdings in Forterra by 28.7% during the 2nd quarter. Rhumbline Advisers now owns 19,598 shares of the construction company’s stock worth $161,000 after purchasing an additional 4,365 shares in the last quarter. Brave Asset Management Inc. bought a new position in Forterra during the 3rd quarter worth about $163,000. Finally, American International Group Inc. bought a new position in Forterra during the 1st quarter worth about $217,000.
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