FORTERRA INC (NASDAQ:FRTA) – Stock analysts at Seaport Global Securities decreased their Q2 2017 earnings per share estimates for shares of FORTERRA INC in a research note issued to investors on Friday. Seaport Global Securities analyst R. Cassil now expects that the construction company will post earnings per share of $0.03 for the quarter, down from their prior forecast of $0.06. Seaport Global Securities currently has a “Buy” rating and a $23.00 target price on the stock. Seaport Global Securities also issued estimates for FORTERRA INC’s Q3 2017 earnings at $0.28 EPS, Q2 2018 earnings at $0.27 EPS, Q3 2018 earnings at $0.50 EPS, Q4 2018 earnings at $0.04 EPS and FY2018 earnings at $0.73 EPS.
FORTERRA INC (NASDAQ:FRTA) last posted its quarterly earnings data on Monday, May 15th. The construction company reported ($0.31) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by $0.24. The firm had revenue of $338.30 million during the quarter, compared to the consensus estimate of $340.24 million.
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FRTA has been the topic of several other research reports. Royal Bank Of Canada reaffirmed a “buy” rating and set a $23.00 price objective on shares of FORTERRA INC in a report on Friday, March 24th. Citigroup Inc. increased their price target on FORTERRA INC from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, April 3rd. Zacks Investment Research downgraded FORTERRA INC from a “hold” rating to a “sell” rating in a research note on Thursday, June 1st. Barclays PLC reissued an “overweight” rating and issued a $18.00 price target (down previously from $23.00) on shares of FORTERRA INC in a research note on Wednesday, May 17th. Finally, ValuEngine raised FORTERRA INC from a “hold” rating to a “buy” rating in a research note on Thursday, June 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. FORTERRA INC currently has an average rating of “Hold” and an average target price of $17.61.
Shares of FORTERRA INC (NASDAQ FRTA) opened at 8.36 on Monday. The company’s market cap is $536.19 million. The stock has a 50 day moving average price of $7.58 and a 200-day moving average price of $15.49. FORTERRA INC has a 1-year low of $6.01 and a 1-year high of $22.76.
A number of hedge funds have recently modified their holdings of FRTA. FMR LLC acquired a new stake in shares of FORTERRA INC during the first quarter valued at approximately $31,062,000. Sound Point Capital Management LP increased its stake in shares of FORTERRA INC by 40.9% in the first quarter. Sound Point Capital Management LP now owns 949,645 shares of the construction company’s stock valued at $18,518,000 after buying an additional 275,504 shares during the last quarter. State Street Corp acquired a new stake in shares of FORTERRA INC during the fourth quarter valued at approximately $4,959,000. Rubric Capital Management LP increased its stake in shares of FORTERRA INC by 102.7% in the first quarter. Rubric Capital Management LP now owns 405,484 shares of the construction company’s stock valued at $7,907,000 after buying an additional 205,484 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of FORTERRA INC by 328.6% in the first quarter. Goldman Sachs Group Inc. now owns 225,936 shares of the construction company’s stock valued at $4,406,000 after buying an additional 173,216 shares during the last quarter. 99.76% of the stock is currently owned by institutional investors and hedge funds.
About FORTERRA INC
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