Royal Bank Of Canada Raises FORTERRA INC (FRTA) Price Target to $8.00
FORTERRA INC (NASDAQ:FRTA) had its price target lifted by Royal Bank Of Canada from $3.50 to $8.00 in a research report released on Thursday, Marketbeat reports. The firm currently has a market perform rating on the construction company’s stock.
FRTA has been the subject of a number of other reports. Zacks Investment Research raised shares of FORTERRA INC from a sell rating to a hold rating in a report on Thursday, September 7th. Barclays PLC cut shares of FORTERRA INC from an overweight rating to an equal weight rating and reduced their target price for the company from $15.00 to $4.00 in a report on Friday, August 11th. ValuEngine cut shares of FORTERRA INC from a hold rating to a sell rating in a report on Monday, October 2nd. Finally, Citigroup Inc. reduced their target price on shares of FORTERRA INC from $8.50 to $4.00 and set a buy rating for the company in a report on Monday, August 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. FORTERRA INC currently has a consensus rating of Hold and an average price target of $14.50.
Shares of FORTERRA INC (NASDAQ:FRTA) traded up $0.33 during trading on Thursday, reaching $8.54. 1,487,800 shares of the company were exchanged, compared to its average volume of 1,262,448. FORTERRA INC has a 12 month low of $3.02 and a 12 month high of $22.76. The company has a debt-to-equity ratio of 14.18, a quick ratio of 1.60 and a current ratio of 2.85.
FORTERRA INC (NASDAQ:FRTA) last announced its earnings results on Thursday, August 10th. The construction company reported ($0.02) EPS for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.11). FORTERRA INC had a negative net margin of 6.12% and a negative return on equity of 69.06%. The business had revenue of $436.69 million for the quarter, compared to analysts’ expectations of $449.68 million. research analysts anticipate that FORTERRA INC will post -0.41 earnings per share for the current fiscal year.
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In other FORTERRA INC news, CEO Jeff Bradley acquired 25,000 shares of the stock in a transaction on Monday, September 11th. The stock was acquired at an average price of $3.97 per share, for a total transaction of $99,250.00. Following the completion of the transaction, the chief executive officer now directly owns 109,336 shares of the company’s stock, valued at $434,063.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO William Matthew Brown acquired 22,200 shares of the stock in a transaction on Monday, August 14th. The shares were acquired at an average price of $4.80 per share, with a total value of $106,560.00. Following the transaction, the chief financial officer now directly owns 47,501 shares of the company’s stock, valued at $228,004.80. The disclosure for this purchase can be found here. Insiders have purchased 173,774 shares of company stock valued at $739,476 over the last ninety days. 0.33% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Citadel Advisors LLC lifted its position in FORTERRA INC by 370.6% during the third quarter. Citadel Advisors LLC now owns 62,761 shares of the construction company’s stock valued at $282,000 after purchasing an additional 49,425 shares during the last quarter. SG Capital Management LLC bought a new position in FORTERRA INC during the third quarter valued at $2,664,000. Ameriprise Financial Inc. lifted its position in FORTERRA INC by 125.1% during the third quarter. Ameriprise Financial Inc. now owns 792,324 shares of the construction company’s stock valued at $3,566,000 after purchasing an additional 440,300 shares during the last quarter. Paradigm Capital Management Inc. NY bought a new position in FORTERRA INC during the third quarter valued at $137,000. Finally, Frontier Capital Management Co. LLC bought a new position in FORTERRA INC during the third quarter valued at $9,813,000.
FORTERRA INC Company Profile
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