Forterra Inc (NASDAQ:FRTA) CEO Karl Watson purchased 65,200 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average cost of $6.94 per share, with a total value of $452,488.00. Following the purchase, the chief executive officer now directly owns 65,200 shares of the company’s stock, valued at $452,488. The purchase was disclosed in a legal filing with the SEC, which is available through this link.
Shares of FRTA stock opened at $6.75 on Friday. The stock has a fifty day moving average of $6.02 and a 200 day moving average of $5.17. Forterra Inc has a 52 week low of $3.25 and a 52 week high of $9.71. 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 announced its quarterly earnings results on Monday, August 5th. The construction company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The company had revenue of $410.20 million during the quarter, compared to analyst estimates of $422.54 million. Forterra had a negative return on equity of 31.23% and a negative net margin of 2.27%. The firm’s revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.11 earnings per share.
A number of analysts recently commented on FRTA shares. ValuEngine raised Forterra from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Goldman Sachs Group raised Forterra from a “sell” rating to a “buy” rating and raised their price target for the stock from $4.25 to $8.00 in a research note on Wednesday, August 7th. Zacks Investment Research lowered Forterra from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Barclays set a $6.00 price target on Forterra and gave the stock a “hold” rating in a research note on Wednesday, May 8th. Finally, BidaskClub raised Forterra from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Forterra presently has a consensus rating of “Buy” and an average target price of $7.17.
Institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. lifted its position 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 buying an additional 3,152 shares during the period. ELCO Management Co. LLC purchased a new position in Forterra during the first quarter valued at $74,000. Parametric Portfolio Associates LLC lifted its position in Forterra by 29.7% during the second quarter. Parametric Portfolio Associates LLC now owns 16,439 shares of the construction company’s stock valued at $82,000 after buying an additional 3,766 shares during the period. A.R.T. Advisors LLC purchased a new position in Forterra during the second quarter valued at $137,000. Finally, D. E. Shaw & Co. Inc. purchased a new position in Forterra during the second quarter valued at $346,000. 97.11% of the stock is owned by institutional investors and hedge funds.
Forterra Company Profile
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.
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