Forterra Inc (FRTA) Given “Hold” Rating at Royal Bank Of Canada

Forterra Inc (NASDAQ:FRTA)‘s stock had its “hold” rating reaffirmed by equities researchers at Royal Bank Of Canada in a report issued on Tuesday. They presently have a $3.50 target price on the construction company’s stock. Royal Bank Of Canada’s price target would indicate a potential downside of 33.59% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. ValuEngine raised Forterra from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. Barclays PLC reaffirmed a “buy” rating and issued a $15.00 price objective (down from $18.00) on shares of Forterra in a research note on Monday, July 24th. Citigroup Inc. dropped their price objective on Forterra from $8.50 to $4.00 and set a “buy” rating for the company in a research note on Monday, August 14th. Finally, Zacks Investment Research raised Forterra from a “sell” rating to a “hold” rating in a research note on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $14.06.

Shares of Forterra (FRTA) opened at 5.27 on Tuesday. Forterra has a one year low of $3.66 and a one year high of $22.76. The firm has a 50 day moving average price of $4.50 and a 200 day moving average price of $4.50. The stock’s market capitalization is $338.35 million.

Forterra (NASDAQ:FRTA) last issued its quarterly earnings data on Thursday, August 10th. The construction company reported ($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.11). Forterra had a negative net margin of 4.72% and a negative return on equity of 45.03%. The firm had revenue of $436.69 million during the quarter, compared to analyst estimates of $449.68 million. Analysts predict that Forterra will post ($0.50) earnings per share for the current fiscal year.

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In related news, Director John R. Mcpherson bought 23,449 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was purchased at an average cost of $4.29 per share, for a total transaction of $100,596.21. Following the completion of the acquisition, the director now owns 24,579 shares in the company, valued at approximately $105,443.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO William Matthew Brown bought 22,200 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was bought at an average price of $4.80 per share, with a total value of $106,560.00. Following the completion of the acquisition, the chief financial officer now owns 47,501 shares of the company’s stock, valued at approximately $228,004.80. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 173,774 shares of company stock valued at $739,476. 0.33% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Capital World Investors purchased a new position in Forterra in the second quarter valued at $25,249,000. Pictet Asset Management Ltd. boosted 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 valued at $18,960,000 after purchasing an additional 819,647 shares during the period. Vanguard Group Inc. boosted 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 valued at $13,497,000 after purchasing an additional 166,558 shares during the period. FMR LLC purchased a new position in Forterra in the first quarter valued at $31,062,000. Finally, Rubric Capital Management LP boosted 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 valued at $7,840,000 after purchasing an additional 547,116 shares during the period.

Forterra Company Profile

Analyst Recommendations for Forterra (NASDAQ:FRTA)

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