Forterra Inc (NASDAQ:FRTA) announced its quarterly earnings data on Thursday. The construction company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by $0.11, MarketWatch Earnings reports. The company had revenue of $436.69 million for the quarter, compared to the consensus estimate of $449.68 million.

Forterra (NASDAQ:FRTA) traded up 7.98% during midday trading on Friday, hitting $3.79. 2,058,936 shares of the stock traded hands. The company’s 50-day moving average is $8.38 and its 200 day moving average is $14.23. Forterra has a 12-month low of $3.19 and a 12-month high of $22.76. The firm’s market cap is $243.08 million.

A number of hedge funds and other institutional investors have recently made changes to their positions in FRTA. FMR LLC acquired a new position in Forterra during the first quarter valued at approximately $31,062,000. Pictet Asset Management Ltd. raised its position in Forterra by 45.1% in the second quarter. Pictet Asset Management Ltd. now owns 2,636,865 shares of the construction company’s stock valued at $18,960,000 after buying an additional 819,647 shares during the last quarter. Rubric Capital Management LP raised its position in Forterra by 134.9% in the second quarter. Rubric Capital Management LP now owns 952,600 shares of the construction company’s stock valued at $7,840,000 after buying an additional 547,116 shares during the last quarter. Sound Point Capital Management LP raised its position in Forterra by 40.9% in the first quarter. Sound Point Capital Management LP now owns 949,645 shares of the construction company’s stock valued at $18,518,000 after buying an additional 275,504 shares during the last quarter. Finally, State Street Corp acquired a new position in Forterra during the fourth quarter valued at approximately $4,959,000. 98.30% of the stock is owned by institutional investors.

A number of equities research analysts recently weighed in on FRTA shares. ValuEngine upgraded shares of Forterra from a “hold” rating to a “buy” rating in a report on Friday. Zacks Investment Research upgraded shares of Forterra from a “sell” rating to a “hold” rating in a report on Thursday, July 20th. Seaport Global Securities reiterated a “buy” rating and set a $23.00 price objective on shares of Forterra in a report on Friday, April 28th. Royal Bank Of Canada decreased their price objective on shares of Forterra from $16.00 to $10.00 and set a “sector perform” rating for the company in a report on Tuesday, June 27th. Finally, Citigroup Inc. decreased their price objective on shares of Forterra from $17.00 to $8.50 and set a “neutral” rating for the company in a report on Thursday, June 22nd. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $17.28.

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Forterra Company Profile

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