Forterra (FRTA) Shares Down 8%
Shares of Forterra Inc (NASDAQ:FRTA) fell 8% on Friday . The company traded as low as $4.54 and last traded at $4.58. 1,198,580 shares traded hands during mid-day trading, an increase of 211% from the average session volume of 385,770 shares. The stock had previously closed at $4.98.
A number of research firms recently weighed in on FRTA. Barclays increased their price objective on shares of Forterra from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Monday, August 13th. Citigroup increased their price objective on shares of Forterra from $9.50 to $10.50 and gave the stock a “neutral” rating in a report on Thursday, August 9th. BidaskClub cut shares of Forterra from a “buy” rating to a “hold” rating in a report on Tuesday, August 21st. Finally, Zacks Investment Research raised shares of Forterra from a “sell” rating to a “hold” rating in a report on Monday, August 27th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $10.47.
The company has a current ratio of 2.15, a quick ratio of 1.14 and a debt-to-equity ratio of 11.59.
A number of institutional investors and hedge funds have recently made changes to their positions in FRTA. Jane Street Group LLC bought a new position in Forterra in the 1st quarter valued at about $100,000. BlueMountain Capital Management LLC bought a new position in Forterra in the 2nd quarter valued at about $102,000. Barclays PLC grew its position in Forterra by 415.1% in the 1st quarter. Barclays PLC now owns 15,252 shares of the construction company’s stock valued at $128,000 after buying an additional 12,291 shares in the last quarter. Fox Run Management L.L.C. bought a new position in Forterra in the 3rd quarter valued at about $145,000. Finally, Capital Fund Management S.A. bought a new position in Forterra in the 2nd quarter valued at about $258,000.
About Forterra (NASDAQ:FRTA)
Forterra, Inc manufactures and sells water and drainage pipe and products in the United States and Eastern Canada. It also manufactures structural and specialty precast products, and precast concrete bridge girders; and pressure, prestressed concrete, and bar-wrapped concrete pipes. The company serves water-related infrastructure applications, including water transmission, distribution, and drainage; and contractors, distributors, municipalities, and utilities waterworks.
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