FORTERRA INC (FRTA) Issues Earnings Results

FORTERRA INC (NASDAQ:FRTA) released its quarterly earnings data on Thursday. The construction company reported ($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by $0.11, MarketWatch Earnings reports. The business had revenue of $436.69 million during the quarter, compared to the consensus estimate of $449.68 million.

FORTERRA INC (FRTA) opened at 4.64 on Friday. The firm’s market cap is $297.60 million. The stock has a 50 day moving average price of $8.29 and a 200 day moving average price of $14.13. FORTERRA INC has a 52 week low of $3.19 and a 52 week high of $22.76.

TRADEMARK VIOLATION WARNING: This piece was first posted by Community Financial News and is the property of of Community Financial News. If you are accessing this piece on another website, it was copied illegally and reposted in violation of international trademark and copyright laws. The correct version of this piece can be viewed at https://www.com-unik.info/2017/08/12/forterra-inc-frta-issues-earnings-results.html.

A number of equities analysts have weighed in on FRTA shares. Barclays PLC reissued an “overweight” rating and set a $18.00 price objective (down previously from $23.00) on shares of FORTERRA INC in a research note on Wednesday, May 17th. Zacks Investment Research lowered FORTERRA INC from a “hold” rating to a “sell” rating in a research note on Thursday, June 1st. Seaport Global Securities reissued a “buy” rating and set a $23.00 price objective on shares of FORTERRA INC in a research note on Friday, April 28th. Citigroup Inc. lowered FORTERRA INC from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $23.00 to $17.00 in a research note on Tuesday, May 16th. Finally, ValuEngine raised FORTERRA INC from a “hold” rating to a “buy” rating in a research note on Thursday, June 1st. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. FORTERRA INC has an average rating of “Hold” and an average price target of $16.06.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. OxFORD Asset Management LLP purchased a new position in shares of FORTERRA INC during the second quarter worth $1,707,000. Vanguard Group Inc. boosted its position in shares of FORTERRA INC by 11.3% in the second quarter. Vanguard Group Inc. now owns 1,639,962 shares of the construction company’s stock worth $13,497,000 after buying an additional 166,558 shares during the last quarter. Northern Trust Corp boosted its position in shares of FORTERRA INC by 6.7% in the second quarter. Northern Trust Corp now owns 215,838 shares of the construction company’s stock worth $1,777,000 after buying an additional 13,575 shares during the last quarter. Menta Capital LLC boosted its position in shares of FORTERRA INC by 364.1% in the second quarter. Menta Capital LLC now owns 103,302 shares of the construction company’s stock worth $850,000 after buying an additional 81,043 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of FORTERRA INC by 117.1% in the second quarter. Ameriprise Financial Inc. now owns 352,024 shares of the construction company’s stock worth $2,897,000 after buying an additional 189,854 shares during the last quarter. Hedge funds and other institutional investors own 98.30% of the company’s stock.

FORTERRA INC Company Profile

What are top analysts saying about FORTERRA INC? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for FORTERRA INC and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit