FORTERRA INC (FRTA) Downgraded to “Sell” at ValuEngine
ValuEngine lowered shares of FORTERRA INC (NASDAQ:FRTA) from a hold rating to a sell rating in a research report released on Monday.
A number of other analysts also recently commented on FRTA. Royal Bank Of Canada restated a hold rating and set a $10.00 price target on shares of FORTERRA INC in a research report on Wednesday, August 9th. Barclays PLC reaffirmed a buy rating and set a $15.00 target price (down previously from $18.00) on shares of FORTERRA INC in a research note on Monday, July 24th. Zacks Investment Research cut shares of FORTERRA INC from a hold rating to a sell rating in a research report on Monday, August 14th. Finally, Citigroup Inc. dropped their price target on shares of FORTERRA INC from $17.00 to $8.50 and set a neutral rating on the stock in a research report on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. FORTERRA INC has an average rating of Hold and an average price target of $15.56.
FORTERRA INC (FRTA) traded down 0.42% during trading on Monday, reaching $4.70. The company’s stock had a trading volume of 94,205 shares. The stock’s market capitalization is $301.75 million. FORTERRA INC has a 52 week low of $3.66 and a 52 week high of $22.76. The firm has a 50 day moving average of $4.35 and a 200 day moving average of $4.35.
FORTERRA INC (NASDAQ:FRTA) last posted its earnings results on Thursday, August 10th. The construction company reported ($0.02) 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 analyst estimates of $449.68 million. FORTERRA INC had a negative net margin of 4.72% and a negative return on equity of 45.03%. Analysts expect that FORTERRA INC will post ($0.50) EPS for the current year.
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In other news, CFO William Matthew Brown purchased 22,200 shares of FORTERRA INC stock in a transaction that occurred on Monday, August 14th. The stock was acquired at an average price of $4.80 per share, for a total transaction of $106,560.00. Following the transaction, the chief financial officer now owns 47,501 shares in the company, valued at $228,004.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lori M. Browne acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The stock was purchased at an average cost of $4.27 per share, with a total value of $42,700.00. Following the purchase, the insider now directly owns 27,057 shares in the company, valued at approximately $115,533.39. The disclosure for this purchase can be found here. Insiders purchased a total of 173,774 shares of company stock worth $739,476 in the last three months. 0.33% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Voya Investment Management LLC acquired a new stake in FORTERRA INC during the 2nd quarter valued at $104,000. Credit Agricole S A purchased a new stake in shares of FORTERRA INC in the first quarter valued at $139,000. Rhumbline Advisers lifted its holdings in shares of FORTERRA INC by 28.7% in the second quarter. Rhumbline Advisers now owns 19,598 shares of the construction company’s stock valued at $161,000 after purchasing an additional 4,365 shares in the last quarter. American International Group Inc. purchased a new stake in shares of FORTERRA INC in the first quarter valued at $217,000. Finally, Taylor Asset Management Inc. purchased a new stake in shares of FORTERRA INC in the second quarter valued at $240,000.
FORTERRA INC Company Profile
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