Forterra Inc (NASDAQ:FRTA) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
Several other equities analysts have also recently issued reports on FRTA. Zacks Investment Research upgraded Forterra from a “sell” rating to a “hold” rating in a research note on Thursday. Royal Bank Of Canada decreased their price objective on Forterra from $16.00 to $10.00 and set a “sector perform” rating for the company in a research note on Tuesday, June 27th. Citigroup Inc. decreased their price objective on Forterra from $17.00 to $8.50 and set a “neutral” rating for the company in a research note on Thursday, June 22nd. Barclays PLC reiterated an “overweight” rating and issued a $18.00 price objective (down previously from $23.00) on shares of Forterra in a research note on Wednesday, May 17th. Finally, SunTrust Banks, Inc. cut Forterra from a “buy” rating to a “hold” rating and set a $14.00 price objective for the company. in a research note on Tuesday, May 16th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Forterra presently has an average rating of “Hold” and a consensus price target of $17.61.
Forterra (NASDAQ:FRTA) traded up 3.80% during mid-day trading on Thursday, hitting $9.02. 543,876 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $7.67 and its 200-day moving average price is $15.39. The stock’s market cap is $578.52 million. Forterra has a one year low of $6.01 and a one year high of $22.76.
Forterra (NASDAQ:FRTA) last released its earnings results on Monday, May 15th. The construction company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.07) by $0.24. The business had revenue of $338.30 million during the quarter, compared to the consensus estimate of $340.24 million. On average, analysts forecast that Forterra will post $0.31 EPS for the current fiscal year.
TRADEMARK VIOLATION WARNING: This report was originally published by BNB Daily and is owned by of BNB Daily. If you are viewing this report on another website, it was illegally stolen and republished in violation of US and international trademark & copyright laws. The original version of this report can be accessed at https://www.baseball-news-blog.com/2017/07/21/forterra-inc-nasdaqfrta-rating-lowered-to-hold-at-valuengine.html.
Several institutional investors have recently made changes to their positions in FRTA. State Street Corp bought a new position in shares of Forterra during the fourth quarter valued at about $4,959,000. Metropolitan Life Insurance Co. NY bought a new position in shares of Forterra during the fourth quarter valued at about $410,000. Ladenburg Thalmann Financial Services Inc. bought a new position in shares of Forterra during the fourth quarter valued at about $109,000. Teachers Advisors LLC bought a new position in shares of Forterra during the fourth quarter valued at about $656,000. Finally, Macquarie Group Ltd. bought a new position in shares of Forterra during the fourth quarter valued at about $1,892,000. Institutional investors and hedge funds own 99.76% of the company’s stock.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Forterra Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forterra Inc and related companies with MarketBeat.com's FREE daily email newsletter.