FRTA has been the topic of several other reports. ValuEngine upgraded shares of Forterra from a hold rating to a buy rating in a report on Thursday, August 1st. Goldman Sachs Group upgraded shares of Forterra from a sell rating to a buy rating and upped their price target for the company from $4.25 to $8.00 in a report on Wednesday, August 7th. Finally, Zacks Investment Research downgraded shares of Forterra from a buy rating to a hold rating in a report on Wednesday, July 10th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $7.17.
Shares of NASDAQ:FRTA opened at $7.27 on Wednesday. Forterra has a 12 month low of $3.25 and a 12 month high of $8.18. The firm’s 50-day moving average is $6.53 and its 200 day moving average is $5.38. The company has a current ratio of 2.47, a quick ratio of 1.26 and a debt-to-equity ratio of 14.94.
Forterra (NASDAQ:FRTA) last issued its quarterly earnings results on Monday, August 5th. The construction company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.03 by $0.02. The company had revenue of $410.20 million for the quarter, compared to the consensus estimate of $422.54 million. Forterra had a negative net margin of 2.27% and a negative return on equity of 31.23%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.11 EPS. Sell-side analysts anticipate that Forterra will post -0.42 earnings per share for the current year.
In related news, CEO Karl Watson bought 10,000 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were acquired at an average cost of $5.94 per share, for a total transaction of $59,400.00. Following the purchase, the chief executive officer now directly owns 208,800 shares of the company’s stock, valued at $1,240,272. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Vikrant Bhatia bought 17,175 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was bought at an average price of $6.56 per share, for a total transaction of $112,668.00. Following the completion of the purchase, the insider now directly owns 62,467 shares in the company, valued at $409,783.52. The disclosure for this purchase can be found here. Insiders acquired a total of 110,840 shares of company stock worth $745,778 over the last 90 days. Insiders own 0.84% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Water Asset Management LLC grew its stake in Forterra by 196.2% in the 2nd quarter. Water Asset Management LLC now owns 468,121 shares of the construction company’s stock worth $2,327,000 after acquiring an additional 310,089 shares in the last quarter. Citadel Advisors LLC grew its stake in Forterra by 206.2% in the 2nd quarter. Citadel Advisors LLC now owns 107,027 shares of the construction company’s stock worth $532,000 after acquiring an additional 72,071 shares in the last quarter. D. E. Shaw & Co. Inc. bought a new position in Forterra in the 2nd quarter worth about $346,000. Brigade Capital Management LP grew its stake in Forterra by 24.3% in the 2nd quarter. Brigade Capital Management LP now owns 2,743,000 shares of the construction company’s stock worth $13,633,000 after acquiring an additional 537,000 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Forterra by 19.2% in the 2nd quarter. Vanguard Group Inc. now owns 993,321 shares of the construction company’s stock worth $4,937,000 after acquiring an additional 159,888 shares in the last quarter. Institutional investors and hedge funds own 96.06% of the company’s stock.
Forterra, Inc manufactures and sells pipe and precast products the United States, Canada, and Mexico. It operates through Drainage Pipe & Products; and Water Pipe & Products segments. It offers concrete drainage pipes used for storm water applications, residential and non-residential site developments, sanitary sewers, low-pressure sewer force mains, tunneled systems, treatment plant piping, and utility tunnels.
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