Insider Buying: Forterra Inc (NASDAQ:FRTA) Insider Buys $112,668.00 in Stock

Share on StockTwits

Forterra Inc (NASDAQ:FRTA) insider Vikrant Bhatia purchased 17,175 shares of Forterra stock in a transaction dated Thursday, August 8th. The stock was bought at an average cost of $6.56 per share, with a total value of $112,668.00. Following the completion of the transaction, the insider now directly owns 62,467 shares of the company’s stock, valued at $409,783.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

NASDAQ:FRTA opened at $6.85 on Thursday. The stock has a 50 day moving average price of $5.97. Forterra Inc has a 52 week low of $3.25 and a 52 week high of $9.71. The firm has a market capitalization of $436.59 million, a P/E ratio of -15.57 and a beta of 2.18. The company has a quick ratio of 1.26, a current ratio of 2.47 and a debt-to-equity ratio of 14.94.

Forterra (NASDAQ:FRTA) last released its quarterly earnings data on Monday, August 5th. The construction company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. Forterra had a negative return on equity of 31.23% and a negative net margin of 2.27%. The firm had revenue of $410.20 million for the quarter, compared to the consensus estimate of $422.54 million. During the same quarter in the prior year, the company posted $0.11 earnings per share. The firm’s revenue was down 1.4% on a year-over-year basis.

Hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. grew its holdings in Forterra by 22.6% during the fourth quarter. Principal Financial Group Inc. now owns 17,102 shares of the construction company’s stock valued at $64,000 after purchasing an additional 3,152 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Forterra by 77.6% during the fourth quarter. Bank of New York Mellon Corp now owns 100,921 shares of the construction company’s stock valued at $380,000 after purchasing an additional 44,084 shares during the last quarter. Bank of America Corp DE grew its holdings in Forterra by 1,606.2% during the fourth quarter. Bank of America Corp DE now owns 148,879 shares of the construction company’s stock valued at $559,000 after purchasing an additional 140,153 shares during the last quarter. Royce & Associates LP grew its holdings in Forterra by 4.1% during the first quarter. Royce & Associates LP now owns 2,293,718 shares of the construction company’s stock valued at $9,679,000 after purchasing an additional 91,351 shares during the last quarter. Finally, Spark Investment Management LLC grew its holdings in Forterra by 41.1% during the first quarter. Spark Investment Management LLC now owns 113,700 shares of the construction company’s stock valued at $479,000 after purchasing an additional 33,100 shares during the last quarter. Institutional investors own 97.11% of the company’s stock.

A number of research firms recently commented on FRTA. Barclays set a $6.00 price objective on Forterra and gave the stock a “hold” rating in a report on Wednesday, May 8th. Zacks Investment Research downgraded Forterra from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. BidaskClub upgraded Forterra from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Goldman Sachs Group upgraded Forterra from a “sell” rating to a “buy” rating and increased their price objective for the stock from $4.25 to $8.00 in a report on Wednesday, August 7th. Finally, ValuEngine upgraded Forterra from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $7.17.

About Forterra

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.

See Also: Day Trading – Risk Worth the Reward?

Receive News & Ratings for Forterra Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forterra and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Roots  Price Target Cut to C$5.00
Roots Price Target Cut to C$5.00
National Bank Financial Cuts Nevada Copper  Price Target to C$0.45
National Bank Financial Cuts Nevada Copper Price Target to C$0.45
BMO Capital Markets Trims Roots  Target Price to C$4.00
BMO Capital Markets Trims Roots Target Price to C$4.00
Genpact  Lifted to Hold at Zacks Investment Research
Genpact Lifted to Hold at Zacks Investment Research
Lundin Mining  Price Target Cut to C$8.50
Lundin Mining Price Target Cut to C$8.50
Nexa Resources  Price Target Lowered to C$14.50 at National Bank Financial
Nexa Resources Price Target Lowered to C$14.50 at National Bank Financial


© 2006-2019 Ticker Report