Citigroup Inc. Boosts Forterra Inc (FRTA) Price Target to $9.00

Forterra Inc (NASDAQ:FRTA) had its price objective lifted by Citigroup Inc. from $4.00 to $9.00 in a research note issued to investors on Friday morning. They currently have a buy rating on the construction company’s stock.

FRTA has been the subject of several other research reports. Royal Bank Of Canada restated a hold rating and set a $10.00 target price on shares of Forterra in a research report on Wednesday, August 9th. Zacks Investment Research upgraded Forterra from a sell rating to a hold rating in a research report on Monday, October 16th. Barclays PLC restated a buy rating and set a $15.00 target price (down previously from $18.00) on shares of Forterra in a research report on Monday, July 24th. Finally, ValuEngine upgraded Forterra from a hold rating to a buy rating in a research report on Friday, August 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $14.50.

Shares of Forterra (NASDAQ FRTA) traded up $0.41 during trading hours on Friday, hitting $8.95. The company’s stock had a trading volume of 1,511,500 shares, compared to its average volume of 864,847. Forterra has a fifty-two week low of $3.02 and a fifty-two week high of $22.76. The company has a quick ratio of 1.43, a current ratio of 2.56 and a debt-to-equity ratio of 15.19.

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In other Forterra news, insider Mark D. Carpenter acquired 16,500 shares of Forterra stock in a transaction that occurred on Thursday, September 14th. The stock was bought at an average price of $4.48 per share, with a total value of $73,920.00. Following the completion of the purchase, the insider now directly owns 34,461 shares of the company’s stock, valued at approximately $154,385.28. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Chadwick S. Suss acquired 12,125 shares of Forterra stock in a transaction that occurred on Tuesday, September 12th. The stock was acquired at an average cost of $4.60 per share, with a total value of $55,775.00. Following the purchase, the director now directly owns 12,125 shares of the company’s stock, valued at $55,775. The disclosure for this purchase can be found here. Insiders purchased 151,574 shares of company stock valued at $632,916 in the last quarter. 0.33% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the stock. Voya Investment Management LLC bought a new position in Forterra in the second quarter worth approximately $104,000. Paradigm Capital Management Inc. NY bought a new position in Forterra in the third quarter worth approximately $137,000. Rhumbline Advisers raised its stake in Forterra by 28.7% in the second quarter. Rhumbline Advisers now owns 19,598 shares of the construction company’s stock worth $161,000 after buying an additional 4,365 shares in the last quarter. Brave Asset Management Inc. bought a new position in Forterra in the third quarter worth approximately $163,000. Finally, American International Group Inc. bought a new position in Forterra in the first quarter worth approximately $217,000.

Forterra Company Profile

Analyst Recommendations for Forterra (NASDAQ:FRTA)

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