Forterra Inc (NASDAQ:FRTA)’s share price gapped down before the market opened on Friday following a dissappointing earnings announcement. The stock had previously closed at $0.94, but opened at $3.51. Forterra shares last traded at $3.76, with a volume of 1,975,480 shares traded.

The construction company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by $0.11. The business had revenue of $436.69 million during the quarter, compared to the consensus estimate of $449.68 million.

Several brokerages have recently commented on FRTA. ValuEngine upgraded Forterra from a “hold” rating to a “buy” rating in a research report on Friday. Royal Bank Of Canada reiterated a “hold” rating and issued a $10.00 target price on shares of Forterra in a research report on Wednesday. Barclays PLC lowered Forterra from an “overweight” rating to an “equal weight” rating and set a $15.00 target price for the company. in a research report on Friday. Zacks Investment Research upgraded Forterra from a “sell” rating to a “hold” rating in a research report on Thursday, July 20th. Finally, SunTrust Banks, Inc. lowered Forterra from a “buy” rating to a “hold” rating and set a $14.00 price objective for the company. in a research report on Tuesday, May 16th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Forterra presently has a consensus rating of “Hold” and an average price target of $17.28.

Hedge funds have recently made changes to their positions in the stock. American International Group Inc. acquired a new stake in shares of Forterra during the first quarter valued at $217,000. FMR LLC acquired a new stake in shares of Forterra during the first quarter valued at $31,062,000. Alambic Investment Management L.P. acquired a new stake in shares of Forterra during the first quarter valued at $460,000. Stephens Investment Management Group LLC increased its stake in shares of Forterra by 8.3% in the first quarter. Stephens Investment Management Group LLC now owns 1,037,354 shares of the construction company’s stock valued at $20,228,000 after buying an additional 79,499 shares during the last quarter. Finally, Credit Suisse AG increased its stake in shares of Forterra by 19.6% in the first quarter. Credit Suisse AG now owns 378,198 shares of the construction company’s stock valued at $7,375,000 after buying an additional 61,871 shares during the last quarter. 98.30% of the stock is currently owned by hedge funds and other institutional investors.

The firm’s 50 day moving average is $8.38 and its 200 day moving average is $14.23. The firm’s market cap is $240.52 million.

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Forterra Company Profile

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