FORTERRA INC (NASDAQ:FRTA) - Analysts at Seaport Global Securities lowered their Q2 2017 earnings per share estimates for shares of FORTERRA INC in a research report issued to clients and investors on Friday. Seaport Global Securities analyst R. Cassil now forecasts that the construction company will post earnings per share of $0.03 for the quarter, down from their previous estimate of $0.06. Seaport Global Securities has a “Buy” rating and a $23.00 price target 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.
A number of other research firms have also recently issued reports on FRTA. Royal Bank Of Canada decreased their price objective on shares of FORTERRA INC from $16.00 to $10.00 and set a “sector perform” rating on the stock in a research report on Tuesday, June 27th. Citigroup Inc. decreased their price objective on shares of FORTERRA INC from $17.00 to $8.50 and set a “neutral” rating on the stock in a research report on Thursday, June 22nd. Zacks Investment Research upgraded shares of FORTERRA INC from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 9th. SunTrust Banks, Inc. cut shares of FORTERRA INC from a “buy” rating to a “hold” rating and set a $14.00 price objective on the stock. in a research report on Tuesday, May 16th. Finally, ValuEngine upgraded shares of FORTERRA INC from a “hold” rating to a “buy” rating in a research report 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. The company currently has an average rating of “Hold” and an average price target of $17.61.
Shares of FORTERRA INC (NASDAQ:FRTA) opened at 8.36 on Monday. The company has a 50-day moving average price of $7.58 and a 200-day moving average price of $15.49. The firm’s market capitalization is $536.19 million. FORTERRA INC has a 12-month low of $6.01 and a 12-month high of $22.76.
FORTERRA INC (NASDAQ:FRTA) last posted its quarterly earnings data on Monday, May 15th. The construction company reported ($0.31) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by $0.24. The company had revenue of $338.30 million during the quarter, compared to analyst estimates of $340.24 million.
Several institutional investors have recently made changes to their positions in the stock. State Street Corp bought a new position in shares of FORTERRA INC during the fourth quarter valued at about $4,959,000. Metropolitan Life Insurance Co. NY bought a new position in shares of FORTERRA INC during the fourth quarter valued at about $410,000. Ladenburg Thalmann Financial Services Inc. bought a new position in shares of FORTERRA INC during the fourth quarter valued at about $109,000. Teachers Advisors LLC bought a new position in shares of FORTERRA INC during the fourth quarter valued at about $656,000. Finally, Macquarie Group Ltd. bought a new position in shares of FORTERRA INC during the fourth quarter valued at about $1,892,000. Institutional investors own 99.76% of the company’s stock.
About FORTERRA INC
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