Forterra (FRTA) Downgraded by BidaskClub
Several other brokerages also recently weighed in on FRTA. Zacks Investment Research downgraded shares of Forterra from a “hold” rating to a “sell” rating in a report on Friday, May 17th. Barclays set a $6.00 target price on shares of Forterra and gave the stock a “hold” rating in a report on Wednesday, May 8th. Finally, Citigroup upped their target price on shares of Forterra from $4.50 to $5.50 and gave the stock a “neutral” rating in a report on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $6.85.
Forterra stock traded up $0.07 during mid-day trading on Friday, hitting $5.03. The stock had a trading volume of 60,197 shares, compared to its average volume of 220,435. The company has a market capitalization of $318.92 million, a P/E ratio of -11.43 and a beta of 2.78. The company has a debt-to-equity ratio of 15.85, a quick ratio of 1.14 and a current ratio of 2.57. Forterra has a one year low of $3.25 and a one year high of $10.47.
In related news, CEO Jeff Bradley acquired 40,000 shares of the company’s stock in a transaction on Friday, March 15th. The stock was acquired at an average price of $3.80 per share, with a total value of $152,000.00. Following the acquisition, the chief executive officer now directly owns 195,184 shares of the company’s stock, valued at $741,699.20. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Charles Rodney Brown acquired 36,745 shares of the company’s stock in a transaction on Friday, March 15th. The shares were bought at an average cost of $4.16 per share, with a total value of $152,859.20. Following the acquisition, the chief financial officer now directly owns 57,762 shares in the company, valued at $240,289.92. The disclosure for this purchase can be found here. Insiders purchased a total of 82,863 shares of company stock valued at $331,656 in the last ninety days. 0.84% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in FRTA. Zacks Investment Management bought a new position in shares of Forterra during the 4th quarter valued at about $42,000. Principal Financial Group Inc. boosted its holdings in shares of Forterra by 22.6% during the 4th quarter. Principal Financial Group Inc. now owns 17,102 shares of the construction company’s stock valued at $64,000 after purchasing an additional 3,152 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Forterra by 22.6% during the 4th quarter. D.A. Davidson & CO. now owns 19,000 shares of the construction company’s stock valued at $71,000 after purchasing an additional 3,500 shares during the last quarter. ELCO Management Co. LLC bought a new position in shares of Forterra during the 1st quarter valued at about $74,000. Finally, MML Investors Services LLC boosted its holdings in shares of Forterra by 16.8% during the 4th quarter. MML Investors Services LLC now owns 22,404 shares of the construction company’s stock valued at $84,000 after purchasing an additional 3,220 shares during the last quarter. 96.88% of the stock is owned by institutional investors and hedge funds.
Forterra, Inc manufactures and sells pipe and precast products the United States, Canada, and Mexico. It operates through Drainage Pipe & Products; and Water Pipe & Products segments. It offers concrete drainage pipes used for storm water applications, residential and non-residential site developments, sanitary sewers, low-pressure sewer force mains, tunneled systems, treatment plant piping, and utility tunnels.
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