Forterra Inc (FRTA) Receives $14.06 Consensus PT from Brokerages
Forterra Inc (NASDAQ:FRTA) has been given a consensus recommendation of “Hold” by the eleven ratings firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $14.06.
Several equities analysts have weighed in on FRTA shares. ValuEngine lowered Forterra from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. Royal Bank Of Canada reissued a “hold” rating and set a $3.50 price objective on shares of Forterra in a report on Tuesday. Citigroup Inc. reduced their price objective on Forterra from $8.50 to $4.00 and set a “buy” rating for the company in a report on Monday, August 14th. Zacks Investment Research lowered Forterra from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Finally, Barclays PLC lowered Forterra from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $15.00 to $4.00 in a report on Friday, August 11th.
Forterra (FRTA) traded down 0.19% during mid-day trading on Wednesday, reaching $5.33. The company had a trading volume of 466,472 shares. The stock’s market capitalization is $342.20 million. The company’s 50-day moving average is $4.63 and its 200-day moving average is $4.63. Forterra has a one year low of $3.66 and a one year high of $22.76.
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 consensus estimate of $0.09 by ($0.11). The business had revenue of $436.69 million during the quarter, compared to the consensus estimate of $449.68 million. Forterra had a negative net margin of 4.72% and a negative return on equity of 45.03%. Equities research analysts anticipate that Forterra will post ($0.53) earnings per share for the current year.
In other news, CEO Jeff Bradley acquired 25,000 shares of Forterra stock in a transaction on Monday, September 11th. The stock was acquired at an average cost of $3.97 per share, with a total value of $99,250.00. Following the completion of the acquisition, the chief executive officer now owns 109,336 shares in the company, valued at $434,063.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO William Matthew Brown acquired 22,200 shares of Forterra stock in a transaction on Monday, August 14th. The shares were purchased at an average cost of $4.80 per share, with a total value of $106,560.00. Following the completion of the acquisition, the chief financial officer now owns 47,501 shares of the company’s stock, valued at approximately $228,004.80. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 173,774 shares of company stock valued at $739,476. 0.33% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Voya Investment Management LLC purchased a new stake in shares of Forterra during the second quarter worth $104,000. Credit Agricole S A purchased a new stake in shares of Forterra during the first quarter worth $139,000. Rhumbline Advisers lifted its position in shares of Forterra by 28.7% during the second quarter. Rhumbline Advisers now owns 19,598 shares of the construction company’s stock worth $161,000 after acquiring an additional 4,365 shares in the last quarter. American International Group Inc. purchased a new stake in shares of Forterra during the first quarter worth $217,000. Finally, Taylor Asset Management Inc. purchased a new stake in shares of Forterra during the second quarter worth $240,000.
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