Insider Buying: Forterra Inc (FRTA) Insider Buys $73,920.00 in Stock
Forterra Inc (NASDAQ:FRTA) insider Mark D. Carpenter acquired 16,500 shares of Forterra stock in a transaction on Thursday, September 14th. The shares were purchased at an average price of $4.48 per share, for a total transaction of $73,920.00. Following the completion of the acquisition, the insider now directly owns 34,461 shares in the company, valued at $154,385.28. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.
Forterra Inc (NASDAQ:FRTA) opened at 4.11 on Friday. The firm’s 50-day moving average price is $4.38 and its 200 day moving average price is $11.41. Forterra Inc has a 12-month low of $3.85 and a 12-month high of $22.76. The stock’s market capitalization is $263.87 million.
Forterra (NASDAQ:FRTA) last announced its earnings results on Thursday, August 10th. The construction company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.11). The firm had revenue of $436.69 million during the quarter, compared to analysts’ expectations of $449.68 million. Forterra had a negative net margin of 4.72% and a negative return on equity of 45.03%. On average, equities analysts anticipate that Forterra Inc will post ($0.50) EPS for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in FRTA. Capital World Investors purchased a new stake in shares of Forterra during the second quarter worth $25,249,000. Pictet Asset Management Ltd. increased its position in shares of Forterra by 45.1% during 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 period. Vanguard Group Inc. increased its position in shares of Forterra by 11.3% during 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 period. FMR LLC purchased a new stake in shares of Forterra during the first quarter worth $31,062,000. Finally, Stephens Investment Management Group LLC increased its position in shares of Forterra by 8.3% during the first quarter. Stephens Investment Management Group LLC now owns 1,037,354 shares of the construction company’s stock worth $20,228,000 after acquiring an additional 79,499 shares during the period.
Several research firms have commented on FRTA. Barclays PLC restated a “buy” rating and set a $15.00 price objective (down from $18.00) on shares of Forterra in a report on Monday, July 24th. ValuEngine downgraded Forterra from a “buy” rating to a “hold” rating in a report on Thursday, July 20th. Zacks Investment Research upgraded Forterra from a “sell” rating to a “hold” rating in a report on Thursday, July 20th. Royal Bank Of Canada reduced their price objective on Forterra from $16.00 to $10.00 and set a “sector perform” rating on the stock in a report on Tuesday, June 27th. Finally, Citigroup Inc. reduced their price objective on Forterra from $17.00 to $8.50 and set a “neutral” rating on the stock in a report on Thursday, June 22nd. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $15.56.
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