ValuEngine Lowers FORTERRA INC (FRTA) to Hold

ValuEngine downgraded shares of FORTERRA INC (NASDAQ:FRTA) from a buy rating to a hold rating in a research report report published on Thursday morning.

Other equities analysts have also issued research reports about the stock. Citigroup Inc. lowered shares of FORTERRA INC from a buy rating to a neutral rating and decreased their price target for the stock from $23.00 to $17.00 in a report on Tuesday, May 16th. Zacks Investment Research raised shares of FORTERRA INC from a sell rating to a hold rating in a report on Thursday. SunTrust Banks, Inc. lowered shares of FORTERRA INC from a buy rating to a hold rating and set a $14.00 price target on the stock. in a report on Tuesday, May 16th. Royal Bank Of Canada lowered shares of FORTERRA INC from an outperform rating to a sector perform rating and decreased their price target for the stock from $23.00 to $16.00 in a report on Tuesday, May 16th. Finally, 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 report on Wednesday, May 17th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $17.61.

FORTERRA INC (NASDAQ:FRTA) remained flat at $9.02 during mid-day trading on Thursday. The company’s stock had a trading volume of 440,645 shares. FORTERRA INC has a 52 week low of $6.01 and a 52 week high of $22.76. The stock has a 50 day moving average of $7.67 and a 200 day moving average of $15.39. The stock’s market cap is $578.52 million.

FORTERRA INC (NASDAQ:FRTA) last issued its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $340.24 million. Analysts predict that FORTERRA INC will post $0.31 earnings per share for the current fiscal year.

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Several institutional investors have recently added to or reduced their stakes in FRTA. Goldman Sachs Group Inc. raised its position in 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 in the last quarter. Credit Suisse AG raised its position in FORTERRA INC by 19.6% in the first quarter. Credit Suisse AG now owns 378,198 shares of the construction company’s stock valued at $7,375,000 after buying an additional 61,871 shares in the last quarter. Sound Point Capital Management LP raised its position in 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 in the last quarter. Oppenheimer & Co. Inc. raised its position in FORTERRA INC by 65.4% in the first quarter. Oppenheimer & Co. Inc. now owns 63,279 shares of the construction company’s stock valued at $1,234,000 after buying an additional 25,012 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in FORTERRA INC 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 buying an additional 3,762 shares in the last quarter. 99.76% of the stock is currently owned by institutional investors.

FORTERRA INC Company Profile

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for FORTERRA INC (NASDAQ:FRTA)

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