FORTERRA INC (FRTA) Downgraded by ValuEngine
ValuEngine lowered shares of FORTERRA INC (NASDAQ:FRTA) from a hold rating to a sell rating in a research note released on Monday.
Several other research analysts have also recently commented on FRTA. Royal Bank Of Canada restated a hold rating and set a $10.00 target price on shares of FORTERRA INC in a report on Wednesday, August 9th. Citigroup Inc. reduced their target price on shares of FORTERRA INC from $8.50 to $4.00 and set a buy rating for the company in a report on Monday, August 14th. Barclays PLC cut shares of FORTERRA INC from an overweight rating to an equal weight rating and reduced their target price for the stock from $15.00 to $4.00 in a report on Friday, August 11th. Finally, Zacks Investment Research cut shares of FORTERRA INC from a hold rating to a sell rating in a report on Monday, August 14th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $14.88.
FORTERRA INC (NASDAQ FRTA) traded down 2.43% on Monday, hitting $4.82. 405,675 shares of the stock were exchanged. FORTERRA INC has a one year low of $3.66 and a one year high of $22.76. The stock’s market capitalization is $309.46 million. The company has a 50 day moving average of $4.40 and a 200 day moving average of $4.40.
FORTERRA INC (NASDAQ:FRTA) last announced its earnings results on Thursday, August 10th. The construction company reported ($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.11). FORTERRA INC had a negative return on equity of 45.03% and a negative net margin of 4.72%. The business had revenue of $436.69 million for the quarter, compared to analyst estimates of $449.68 million. On average, equities research analysts forecast that FORTERRA INC will post ($0.50) earnings per share for the current fiscal year.
In other news, CEO Jeff Bradley purchased 25,000 shares of the company’s stock in a transaction on Monday, September 11th. The shares were purchased at an average cost of $3.97 per share, with a total value of $99,250.00. Following the completion of the transaction, the chief executive officer now owns 109,336 shares of the company’s stock, valued at approximately $434,063.92. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO William Matthew Brown purchased 22,200 shares of the company’s stock in a transaction on Monday, August 14th. The shares were purchased at an average cost of $4.80 per share, for a total transaction of $106,560.00. Following the completion of the transaction, the chief financial officer now directly owns 47,501 shares of the company’s stock, valued at approximately $228,004.80. The disclosure for this purchase can be found here. Insiders have acquired 173,774 shares of company stock worth $739,476 over the last ninety days. Insiders own 0.33% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of FRTA. Voya Investment Management LLC bought a new stake in FORTERRA INC during the second quarter worth $104,000. Credit Agricole S A bought a new stake in FORTERRA INC during the first quarter worth $139,000. Rhumbline Advisers raised its position in FORTERRA INC by 28.7% during the second quarter. Rhumbline Advisers now owns 19,598 shares of the construction company’s stock worth $161,000 after acquiring an additional 4,365 shares in the last quarter. American International Group Inc. bought a new stake in FORTERRA INC during the first quarter worth $217,000. Finally, Taylor Asset Management Inc. bought a new stake in FORTERRA INC during the second quarter worth $240,000.
FORTERRA INC Company Profile
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