Forterra Inc (FRTA) Receives $11.36 Average Target Price from Analysts
Shares of Forterra Inc (NASDAQ:FRTA) have received an average recommendation of “Hold” from the eight analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $11.36.
Several equities analysts have recently commented on FRTA shares. Royal Bank Of Canada reaffirmed a “hold” rating and set a $10.00 price target on shares of Forterra in a research report on Wednesday, August 9th. ValuEngine raised shares of Forterra from a “hold” rating to a “buy” rating in a research report on Friday, August 11th. Barclays cut shares of Forterra from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $15.00 to $4.00 in a research report on Friday, August 11th. Citigroup reduced their price target on shares of Forterra from $8.50 to $4.00 and set a “buy” rating on the stock in a research report on Monday, August 14th. Finally, Zacks Investment Research cut shares of Forterra from a “hold” rating to a “sell” rating in a research report on Monday, August 14th.
In other Forterra news, Director John R. Mcpherson bought 23,449 shares of the business’s stock in a transaction on Friday, September 15th. The shares were purchased at an average price of $4.29 per share, with a total value of $100,596.21. Following the completion of the acquisition, the director now directly owns 24,579 shares of the company’s stock, valued at approximately $105,443.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeff Bradley bought 25,000 shares of the business’s stock in a transaction on Monday, September 11th. The stock was acquired at an average cost of $3.97 per share, for a total transaction of $99,250.00. Following the acquisition, the chief executive officer now directly owns 109,336 shares of the company’s stock, valued at $434,063.92. The disclosure for this purchase can be found here. Insiders acquired 151,574 shares of company stock worth $632,916 in the last three months. 0.33% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Capital World Investors bought a new position in Forterra in the second quarter worth about $25,249,000. Pictet Asset Management Ltd. lifted its holdings in Forterra by 45.1% in the second quarter. Pictet Asset Management Ltd. now owns 2,636,865 shares of the construction company’s stock worth $18,960,000 after acquiring an additional 819,647 shares during the last quarter. Frontier Capital Management Co. LLC bought a new position in Forterra in the third quarter worth about $9,813,000. Vanguard Group Inc. lifted its holdings in Forterra by 11.3% in the second quarter. Vanguard Group Inc. now owns 1,639,962 shares of the construction company’s stock worth $13,497,000 after acquiring an additional 166,558 shares during the last quarter. Finally, Rubric Capital Management LP lifted its holdings in Forterra by 134.9% in the second quarter. Rubric Capital Management LP now owns 952,600 shares of the construction company’s stock worth $7,840,000 after acquiring an additional 547,116 shares during the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Forterra (NASDAQ FRTA) traded down $0.49 during mid-day trading on Thursday, hitting $9.35. 727,357 shares of the stock traded hands, compared to its average volume of 1,436,437. The company has a current ratio of 2.56, a quick ratio of 1.43 and a debt-to-equity ratio of 15.19. Forterra has a twelve month low of $3.02 and a twelve month high of $22.76.
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Forterra Company Profile
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