Forterra Inc (FRTA) Stock Price Up 0%
Forterra Inc (NASDAQ:FRTA) rose 0% during mid-day trading on Friday . The company traded as high as $4.16 and last traded at $3.95. Approximately 3,554,442 shares traded hands during trading, an increase of 218% from the average daily volume of 1,116,750 shares. The stock had previously closed at $3.95.
A number of research firms have recently weighed in on FRTA. Royal Bank Of Canada restated a “hold” rating and issued a $10.00 price target on shares of Forterra in a research note on Wednesday, August 9th. ValuEngine upgraded shares of Forterra from a “hold” rating to a “buy” rating in a research note on Thursday, June 1st. Barclays PLC restated a “buy” rating and issued a $15.00 price target (down from $18.00) on shares of Forterra in a research note on Monday, July 24th. Zacks Investment Research upgraded shares of Forterra from a “sell” rating to a “hold” rating in a research note on Friday, May 26th. Finally, Citigroup Inc. reduced their price target on shares of Forterra from $17.00 to $8.50 and set a “neutral” rating on the stock in a research note on Thursday, June 22nd. Seven investment analysts have rated the stock with 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 $15.56.
The firm’s 50 day moving average price is $6.08 and its 200-day moving average price is $12.13. The company’s market cap is $245.26 million.
Forterra (NASDAQ:FRTA) last posted its quarterly earnings data 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. The company had revenue of $436.69 million during the quarter, compared to the consensus estimate of $449.68 million. Forterra had a negative return on equity of 45.03% and a negative net margin of 4.72%. Analysts anticipate that Forterra Inc will post ($0.52) earnings per share for the current year.
In related news, CFO William Matthew Brown acquired 22,200 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were bought at an average cost of $4.80 per share, for a total transaction of $106,560.00. Following the completion of the transaction, the chief financial officer now owns 47,501 shares in the company, valued at $228,004.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Voya Investment Management LLC bought a new position in shares of Forterra in the second quarter worth approximately $104,000. Credit Agricole S A purchased a new stake in Forterra in the first quarter worth approximately $139,000. Rhumbline Advisers boosted its stake in Forterra by 28.7% in the second quarter. Rhumbline Advisers now owns 19,598 shares of the construction company’s stock worth $161,000 after buying an additional 4,365 shares in the last quarter. American International Group Inc. purchased a new stake in Forterra in the first quarter worth approximately $217,000. Finally, Taylor Asset Management Inc. purchased a new stake in Forterra in the second quarter worth approximately $240,000.
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