Seaport Global Securities Comments on FORTERRA INC’s Q2 2017 Earnings (NASDAQ:FRTA)

Get Analysts' Upgrades and Downgrades Daily

Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.

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.

TRADEMARK VIOLATION NOTICE: This report was first published by [[site]] and is the sole property of of [[site]]. If you are viewing this report on another website, it was copied illegally and reposted in violation of U.S. and international copyright and trademark law. The original version of this report can be read at [[permalink]].

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