Forterra Inc (NASDAQ:FRTA) had its target price upped by investment analysts at Barclays PLC from $4.00 to $7.00 in a research note issued to investors on Tuesday. The brokerage presently has an “equal weight” rating on the construction company’s stock. Barclays PLC’s price target would suggest a potential downside of 21.79% from the company’s current price.
Several other equities research analysts also recently weighed in on FRTA. Zacks Investment Research raised Forterra from a “sell” rating to a “hold” rating in a report on Thursday, July 20th. ValuEngine downgraded Forterra from a “buy” rating to a “hold” rating in a report on Thursday, July 20th. Royal Bank Of Canada restated a “hold” rating and issued a $10.00 price objective on shares of Forterra in a research note on Wednesday, August 9th. Finally, Citigroup Inc. reduced 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. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $14.83.
Shares of Forterra (NASDAQ:FRTA) traded up $0.41 during midday trading on Tuesday, reaching $8.95. The company’s stock had a trading volume of 1,511,500 shares, compared to its average volume of 864,847. The company has a debt-to-equity ratio of 15.19, a current ratio of 2.56 and a quick ratio of 1.43. Forterra has a fifty-two week low of $3.02 and a fifty-two week high of $22.76.
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In related news, CEO Jeff Bradley purchased 25,000 shares of Forterra stock in a transaction that occurred on Monday, September 11th. The stock was bought at an average cost of $3.97 per share, for a total transaction of $99,250.00. Following the completion of the transaction, the chief executive officer now owns 109,336 shares in the company, valued at $434,063.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Chadwick S. Suss purchased 12,125 shares of Forterra stock in a transaction that occurred on Tuesday, September 12th. The shares were bought at an average price of $4.60 per share, with a total value of $55,775.00. Following the completion of the transaction, the director now owns 12,125 shares of the company’s stock, valued at approximately $55,775. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 151,574 shares of company stock valued at $632,916. Company insiders own 0.33% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Capital World Investors purchased a new position in Forterra during the second quarter valued at approximately $25,249,000. Taylor Asset Management Inc. acquired a new stake in Forterra in the second quarter valued at approximately $240,000. Schwab Charles Investment Management Inc. grew its holdings in Forterra by 5.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 67,654 shares of the construction company’s stock valued at $1,320,000 after purchasing an additional 3,762 shares during the period. Adams Asset Advisors LLC acquired a new stake in Forterra in the third quarter valued at approximately $914,000. Finally, American International Group Inc. acquired a new stake in Forterra in the first quarter valued at approximately $217,000.
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