Shares of Forterra Inc (NASDAQ:FRTA) dropped 6.6% during mid-day trading on Thursday . The stock traded as low as $10.35 and last traded at $10.68. Approximately 721,800 shares traded hands during trading, an increase of 6% from the average daily volume of 679,043 shares. The stock had previously closed at $11.44.

Several equities analysts have weighed in on FRTA shares. ValuEngine cut Forterra from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. Royal Bank of Canada restated a “hold” rating and set a $3.50 price target on shares of Forterra in a report on Tuesday, October 10th. Zacks Investment Research upgraded Forterra from a “sell” rating to a “hold” rating in a report on Monday, October 16th. Citigroup raised their price target on Forterra from $4.00 to $9.00 and gave the company a “buy” rating in a report on Friday, November 10th. Finally, Barclays raised their price target on Forterra from $4.00 to $7.00 and gave the company an “equal weight” rating in a report on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $11.50.

The stock has a market cap of $686.49 and a price-to-earnings ratio of -6.31. The company has a current ratio of 2.56, a quick ratio of 1.43 and a debt-to-equity ratio of 15.19.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital World Investors purchased a new position in Forterra during the 2nd quarter valued at approximately $25,249,000. Frontier Capital Management Co. LLC purchased a new position in shares of Forterra in the 3rd quarter worth approximately $9,813,000. Vanguard Group Inc. boosted its holdings in shares of Forterra by 11.3% in the 2nd quarter. Vanguard Group Inc. now owns 1,639,962 shares of the construction company’s stock worth $13,497,000 after purchasing an additional 166,558 shares during the period. Redwood Capital Management LLC purchased a new position in shares of Forterra in the 2nd quarter worth approximately $7,700,000. Finally, First Trust Advisors LP purchased a new position in shares of Forterra in the 3rd quarter worth approximately $4,129,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

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About Forterra

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