Forterra Inc (NASDAQ:FRTA)‘s stock had its “overweight” rating restated by Barclays PLC in a research note issued to investors on Wednesday, May 17th. They currently have a $18.00 price target on the construction company’s stock, down from their previous price target of $23.00. Barclays PLC’s price objective would indicate a potential upside of 180.81% from the company’s previous close.
Several other research firms have also recently issued reports on FRTA. Seaport Global Securities restated a “buy” rating and set a $23.00 price objective on shares of Forterra in a research report on Friday, April 28th. Royal Bank of Canada cut shares of Forterra from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $23.00 to $16.00 in a research report on Tuesday, May 16th. Zacks Investment Research upgraded shares of Forterra from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 9th. SunTrust Banks, Inc. cut shares of Forterra from a “buy” rating to a “hold” rating and set a $14.00 price objective for the company. in a research report on Tuesday, May 16th. Finally, Citigroup Inc. cut shares of Forterra from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $23.00 to $17.00 in a research report on Tuesday, May 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $19.22.
Forterra (NASDAQ FRTA) traded up 5.95% during trading on Wednesday, hitting $6.41. 1,228,678 shares of the company were exchanged. The stock’s 50-day moving average is $11.84 and its 200-day moving average is $17.41. The company’s market capitalization is $411.12 million. Forterra has a 12 month low of $6.01 and a 12 month high of $22.76.
Forterra (NASDAQ:FRTA) last released its quarterly earnings data on Monday, May 15th. The construction company reported ($0.31) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by $0.24. The company had revenue of $338.30 million for the quarter, compared to analysts’ expectations of $340.24 million. Equities research analysts anticipate that Forterra will post $0.34 earnings per share for the current year.
ILLEGAL ACTIVITY NOTICE: “Forterra Inc (FRTA) Stock Rating Reaffirmed by Barclays PLC” was published by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are viewing this report on another site, it was stolen and reposted in violation of US and international trademark and copyright legislation. The legal version of this report can be viewed at https://www.chaffeybreeze.com/2017/06/16/barclays-plc-reaffirms-overweight-rating-for-forterra-inc-frta-updated-updated-updated.html.
A number of hedge funds and other institutional investors have recently made changes to their positions in FRTA. Ladenburg Thalmann Financial Services Inc. bought a new position in shares of Forterra during the fourth quarter valued at $109,000. Manchester Capital Management LLC bought a new position in shares of Forterra during the first quarter valued at $133,000. Credit Agricole S A bought a new position in shares of Forterra during the first quarter valued at $139,000. American International Group Inc. bought a new position in shares of Forterra during the first quarter valued at $217,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in shares of Forterra during the first quarter valued at $263,000. 99.76% of the stock is owned by institutional investors.
Forterra Company Profile
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.