Forterra Inc (FRTA) CFO Buys $106,560.00 in Stock
Forterra Inc (NASDAQ:FRTA) CFO William Matthew Brown bought 22,200 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were purchased at an average price of $4.80 per share, for a total transaction of $106,560.00. Following the purchase, the chief financial officer now owns 47,501 shares in the company, valued at approximately $228,004.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Forterra Inc (FRTA) traded down 4.31% on Monday, hitting $4.44. 7,095,465 shares of the company were exchanged. Forterra Inc has a 52-week low of $3.19 and a 52-week high of $22.76. The stock’s market capitalization is $284.89 million. The stock’s 50-day moving average price is $8.20 and its 200-day moving average price is $13.94.
Forterra (NASDAQ:FRTA) last announced its earnings results on Thursday, August 10th. The construction company reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by $0.11. The firm had revenue of $436.69 million during the quarter, compared to analyst estimates of $449.68 million. On average, equities research analysts anticipate that Forterra Inc will post $0.27 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently made changes to their positions in FRTA. Manchester Capital Management LLC acquired a new position in shares of Forterra during the first quarter valued at $133,000. Credit Agricole S A purchased a new position in Forterra during the first quarter valued at approximately $139,000. American International Group Inc. purchased a new position in Forterra during the first quarter valued at approximately $217,000. Voya Investment Management LLC purchased a new position in Forterra during the second quarter valued at approximately $104,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in Forterra during the first quarter valued at approximately $263,000. 98.56% of the stock is owned by institutional investors and hedge funds.
A number of research firms have commented on FRTA. Citigroup Inc. decreased their target price on shares of Forterra from $8.50 to $4.00 and set a “buy” rating on the stock in a research note on Monday. Barclays PLC lowered shares of 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 report on Friday. Zacks Investment Research raised shares of Forterra from a “sell” rating to a “hold” rating in a report on Thursday, July 20th. SunTrust Banks, Inc. lowered shares of Forterra from a “buy” rating to a “hold” rating and set a $14.00 price objective for the company. in a report on Tuesday, May 16th. Finally, Royal Bank Of Canada lowered shares of Forterra from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $23.00 to $16.00 in a report on Tuesday, May 16th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $15.56.
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