Forterra Inc (FRTA) Hits New 1-Year Low at $3.17
Forterra Inc (NASDAQ:FRTA) reached a new 52-week low on Tuesday . The stock traded as low as $3.17 and last traded at $3.15, with a volume of 496,818 shares traded. The stock had previously closed at $3.34.
Several equities research analysts have weighed in on the stock. Royal Bank Of Canada reiterated a “hold” rating and issued a $10.00 target price on shares of Forterra in a report on Wednesday, August 9th. ValuEngine upgraded shares of Forterra from a “hold” rating to a “buy” rating in a report on Friday, August 11th. Citigroup Inc. cut their target price on shares of Forterra from $8.50 to $4.00 and set a “buy” rating on the stock in a report on Monday, August 14th. Barclays PLC lowered shares of Forterra from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $15.00 to $4.00 in a report on Friday, August 11th. Finally, Zacks Investment Research lowered shares of Forterra from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $15.56.
The stock’s market cap is $198.39 million. The firm has a 50 day moving average of $6.57 and a 200-day moving average of $12.51.
Forterra (NASDAQ:FRTA) last released its earnings results on Thursday, August 10th. The construction company reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.09 by $0.11. Forterra had a negative net margin of 2.56% and a negative return on equity of 42.43%. The company had revenue of $436.69 million for the quarter, compared to analyst estimates of $449.68 million. Equities research analysts anticipate that Forterra Inc will post ($0.50) EPS for the current year.
In other Forterra news, CFO William Matthew Brown acquired 22,200 shares of the stock in a transaction on Monday, August 14th. The shares were purchased at an average price of $4.80 per share, for a total transaction of $106,560.00. Following the completion of the acquisition, the chief financial officer now owns 47,501 shares in the company, valued at approximately $228,004.80. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.33% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in FRTA. Capital World Investors acquired a new position in Forterra during the second quarter worth $25,249,000. FMR LLC acquired a new position in Forterra during the first quarter worth $31,062,000. Redwood Capital Management LLC acquired a new position in Forterra during the second quarter worth $7,700,000. Pictet Asset Management Ltd. raised its holdings in Forterra by 45.1% during the second quarter. Pictet Asset Management Ltd. now owns 2,636,865 shares of the construction company’s stock worth $18,960,000 after buying an additional 819,647 shares during the last quarter. Finally, Rubric Capital Management LP raised its holdings in Forterra by 134.9% during the second quarter. Rubric Capital Management LP now owns 952,600 shares of the construction company’s stock worth $7,840,000 after buying an additional 547,116 shares during the last quarter.
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Forterra Company Profile