Forterra Inc (NASDAQ:FRTA) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Friday.
FRTA has been the subject of a number of other reports. Barclays PLC reissued a “buy” rating and issued a $15.00 target price (down from $18.00) on shares of Forterra in a research note on Monday, July 24th. Royal Bank Of Canada reissued a “hold” rating and issued a $10.00 target price on shares of Forterra in a research note on Wednesday. Zacks Investment Research raised Forterra from a “sell” rating to a “hold” rating in a research note on Friday, May 26th. Seaport Global Securities reissued a “buy” rating and issued a $23.00 target price on shares of Forterra in a research note on Friday, April 28th. Finally, Citigroup Inc decreased their target price on Forterra from $17.00 to $8.50 and set a “neutral” rating for the company in a research note on Thursday, June 22nd. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $17.28.
Shares of Forterra (NASDAQ FRTA) opened at 3.51 on Friday. The company has a 50-day moving average price of $8.38 and a 200 day moving average price of $14.23. Forterra has a 52 week low of $3.50 and a 52 week high of $22.76. The stock’s market capitalization is $225.12 million.
Forterra (NASDAQ:FRTA) last posted 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. Forterra had a negative net margin of 6.66% and a negative return on equity of 74.05%. Analysts forecast that Forterra will post $0.29 earnings per share for the current fiscal year.
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Hedge funds have recently modified their holdings of the stock. FMR LLC purchased a new stake in shares of Forterra during the first quarter worth approximately $31,062,000. Pictet Asset Management Ltd. raised its stake in shares of Forterra by 45.1% in the second quarter. Pictet Asset Management Ltd. now owns 2,636,865 shares of the construction company’s stock worth $18,960,000 after buying an additional 819,647 shares during the period. Rubric Capital Management LP raised its stake in shares of Forterra by 134.9% in the second quarter. Rubric Capital Management LP now owns 952,600 shares of the construction company’s stock worth $7,840,000 after buying an additional 547,116 shares during the period. Sound Point Capital Management LP raised its stake in shares of Forterra by 40.9% in the first quarter. Sound Point Capital Management LP now owns 949,645 shares of the construction company’s stock worth $18,518,000 after buying an additional 275,504 shares during the period. Finally, State Street Corp purchased a new stake in shares of Forterra during the fourth quarter worth approximately $4,959,000. Institutional investors own 98.30% of the company’s stock.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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