Forterra Inc’s (FRTA) Quiet Period To End on November 29th
Forterra’s (NASDAQ:FRTA) quiet period will end on Tuesday, November 29th. Forterra had issued 18,420,000 shares in its IPO on October 20th. The total size of the offering was $331,560,000 based on an initial share price of $18.00. During Forterra’s quiet period, insiders and underwriters involved in the IPO are prevented from issuing any research reports for the company because of SEC regulations. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
A number of analysts recently commented on the company. Citigroup Inc. assumed coverage on Forterra in a research report on Monday, November 14th. They set a “buy” rating and a $22.00 price objective for the company. Deutsche Bank AG assumed coverage on Forterra in a research report on Monday, November 14th. They set a “hold” rating and a $20.00 price objective for the company. Royal Bank Of Canada started coverage on Forterra in a research report on Monday, November 14th. They set an “outperform” rating and a $22.00 price objective for the company. Goldman Sachs Group Inc. started coverage on Forterra in a report on Monday, November 14th. They issued a “neutral” rating and a $21.00 price target for the company. Finally, RBC Capital Markets started coverage on Forterra in a report on Monday, November 14th. They issued an “outperform” rating and a $22.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $21.86.
Shares of Forterra (NASDAQ:FRTA) opened at 19.07 on Thursday. The stock has a market cap of $1.22 billion and a PE ratio of 98.81. Forterra has a one year low of $16.24 and a one year high of $19.53. The stock’s 50 day moving average price is $17.59 and its 200-day moving average price is $17.59.
In related news, major shareholder John P. Grayken sold 262,224 shares of the firm’s stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $17.01, for a total transaction of $4,460,430.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
TRADEMARK VIOLATION NOTICE: This piece was originally published by The Cerbat Gem and is the propert of of The Cerbat Gem. If you are accessing this piece on another site, it was illegally copied and republished in violation of United States and international copyright and trademark law. The original version of this piece can be accessed at https://www.thecerbatgem.com/2016/11/24/forterra-incs-frta-quiet-period-to-end-on-november-29th.html.
Receive News & Stock Ratings for Forterra Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forterra Inc and related stocks with our FREE daily email newsletter.