Zacks Investment Research upgraded shares of Forterra Inc (NASDAQ:FRTA) from a sell rating to a hold rating in a report released on Thursday, September 7th.
According to Zacks, “Forterra, Inc. is a manufacturer of concrete and clay building products. It operates primarily in the United States, Canada and the United Kingdom. Forterra, Inc. is headquartered in Irving, Texas. “
Several other research firms have also recently weighed in on FRTA. Citigroup Inc. cut their price objective on Forterra from $8.50 to $4.00 and set a buy rating on the stock in a research report on Monday, August 14th. Barclays PLC cut Forterra from an overweight rating to an equal weight rating and cut their price objective for the company from $15.00 to $4.00 in a research report on Friday, August 11th. ValuEngine raised Forterra from a hold rating to a buy rating in a research report on Friday, August 11th. Royal Bank Of Canada reissued a hold rating and issued a $10.00 price target on shares of Forterra in a research report on Wednesday, August 9th. Finally, SunTrust Banks, Inc. cut Forterra from a buy rating to a hold rating and set a $14.00 price target on the stock. in a research report on Tuesday, May 16th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Forterra has a consensus rating of Hold and an average target price of $15.56.
Forterra (FRTA) opened at 4.175 on Thursday. The firm’s market capitalization is $268.05 million. The company has a 50 day moving average price of $4.28 and a 200-day moving average price of $4.28. Forterra has a 52 week low of $3.85 and a 52 week high of $22.76.
Forterra (NASDAQ:FRTA) last announced its quarterly earnings results on Thursday, August 10th. The construction company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.11). Forterra had a negative net margin of 4.72% and a negative return on equity of 45.03%. The business had revenue of $436.69 million for the quarter, compared to analysts’ expectations of $449.68 million. Equities analysts predict that Forterra will post ($0.50) earnings per share for the current year.
ILLEGAL ACTIVITY WARNING: This report was published by BBNS and is owned by of BBNS. If you are reading this report on another publication, it was illegally copied and republished in violation of United States and international trademark & copyright legislation. The legal version of this report can be viewed at https://baseballnewssource.com/markets/forterra-inc-frta-stock-rating-upgraded-by-zacks-investment-research/1620434.html.
In related news, Director Chris Meyer acquired 62,500 shares of Forterra stock in a transaction dated Monday, September 11th. The stock was purchased at an average cost of $4.03 per share, for a total transaction of $251,875.00. Following the purchase, the director now directly owns 62,500 shares of the company’s stock, valued at approximately $251,875. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO William Matthew Brown purchased 22,200 shares of the business’s stock in a transaction on Monday, August 14th. The stock was acquired at an average price of $4.80 per share, with a total value of $106,560.00. Following the purchase, the chief financial officer now directly owns 47,501 shares in the company, valued at approximately $228,004.80. The disclosure for this purchase can be found here. Insiders bought a total of 173,774 shares of company stock valued at $739,476 over the last 90 days. 0.33% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. Greywolf Capital Management LP purchased a new stake in Forterra in the 2nd quarter worth $2,346,000. State Street Corp boosted its holdings in shares of Forterra by 6.7% during the 2nd quarter. State Street Corp now owns 290,531 shares of the construction company’s stock valued at $2,390,000 after purchasing an additional 18,161 shares during the last quarter. Capital World Investors bought a new position in shares of Forterra during the 2nd quarter valued at about $25,249,000. Goldman Sachs Group Inc. boosted its holdings in shares of Forterra by 88.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 425,456 shares of the construction company’s stock valued at $3,502,000 after purchasing an additional 199,520 shares during the last quarter. Finally, Redwood Capital Management LLC bought a new position in shares of Forterra during the 2nd quarter valued at about $7,700,000.
Forterra Company Profile
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & 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 companies with our FREE daily email newsletter.