Forterra Inc (FRTA) Given Hold Rating at Royal Bank Of Canada
Royal Bank Of Canada reaffirmed their hold rating on shares of Forterra Inc (NASDAQ:FRTA) in a research note issued to investors on Wednesday. The firm currently has a $9.00 price target on the construction company’s stock.
FRTA has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of Forterra from a sell rating to a hold rating in a report on Monday, October 16th. Barclays PLC reiterated a buy rating and issued a $15.00 price objective (down previously from $18.00) on shares of Forterra in a research note on Monday, July 24th. ValuEngine upgraded shares of Forterra from a hold rating to a buy rating in a research note on Friday, August 11th. Finally, Citigroup Inc. increased their price objective on shares of Forterra from $4.00 to $9.00 and gave the company a buy rating in a research note on Friday, November 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $11.36.
Forterra (NASDAQ FRTA) traded up $0.17 on Wednesday, hitting $8.74. 841,737 shares of the company were exchanged, compared to its average volume of 867,780. The company has a current ratio of 2.56, a quick ratio of 1.43 and a debt-to-equity ratio of 15.19. Forterra has a 12 month low of $3.02 and a 12 month high of $22.76.
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In other news, CEO Jeff Bradley acquired 25,000 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was purchased at an average price of $3.97 per share, for a total transaction of $99,250.00. Following the purchase, the chief executive officer now owns 109,336 shares in the company, valued at approximately $434,063.92. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Chris Meyer acquired 62,500 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was purchased at an average price of $4.03 per share, with a total value of $251,875.00. Following the purchase, the director now owns 62,500 shares in the company, valued at approximately $251,875. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 151,574 shares of company stock valued at $632,916. Company insiders own 0.33% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Voya Investment Management LLC purchased a new stake in shares of Forterra during the 2nd quarter worth approximately $104,000. Paradigm Capital Management Inc. NY purchased a new stake in shares of Forterra during the 3rd quarter worth approximately $137,000. Rhumbline Advisers increased its stake in shares of 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 during the last quarter. Brave Asset Management Inc. purchased a new stake in shares of Forterra during the 3rd quarter worth approximately $163,000. Finally, American International Group Inc. purchased a new stake in shares of Forterra during the 1st quarter worth approximately $217,000.
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