Forterra Inc (NASDAQ:FRTA) Director Clinton D. Mcdonnough Buys 10,000 Shares

Forterra Inc (NASDAQ:FRTA) Director Clinton D. Mcdonnough acquired 10,000 shares of Forterra stock in a transaction dated Wednesday, August 14th. The shares were acquired at an average price of $6.84 per share, with a total value of $68,400.00. Following the completion of the transaction, the director now owns 40,902 shares of the company’s stock, valued at approximately $279,769.68. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

NASDAQ:FRTA traded down $0.13 during midday trading on Wednesday, hitting $6.85. 224,691 shares of the stock were exchanged, compared to its average volume of 210,547. Forterra Inc has a one year low of $3.25 and a one year high of $9.71. The company has a market cap of $448.80 million, a P/E ratio of -15.57 and a beta of 2.18. The company’s 50-day moving average price is $5.91. The company has a debt-to-equity ratio of 14.94, a current ratio of 2.47 and a quick ratio of 1.26.

Forterra (NASDAQ:FRTA) last announced its earnings results on Monday, August 5th. The construction company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.02. Forterra had a negative return on equity of 31.23% and a negative net margin of 2.27%. The firm had revenue of $410.20 million for the quarter, compared to analysts’ expectations of $422.54 million. During the same quarter in the previous year, the company earned $0.11 earnings per share. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year.

A number of large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its stake in Forterra by 77.6% in the fourth quarter. Bank of New York Mellon Corp now owns 100,921 shares of the construction company’s stock valued at $380,000 after acquiring an additional 44,084 shares during the period. Geode Capital Management LLC boosted its stake in Forterra by 5.1% in the fourth quarter. Geode Capital Management LLC now owns 190,968 shares of the construction company’s stock valued at $718,000 after acquiring an additional 9,319 shares during the period. Principal Financial Group Inc. boosted its stake in Forterra by 22.6% in the fourth quarter. Principal Financial Group Inc. now owns 17,102 shares of the construction company’s stock valued at $64,000 after acquiring an additional 3,152 shares during the period. Bank of America Corp DE boosted its stake in Forterra by 1,606.2% in the fourth quarter. Bank of America Corp DE now owns 148,879 shares of the construction company’s stock valued at $559,000 after acquiring an additional 140,153 shares during the period. Finally, Spark Investment Management LLC boosted its stake in Forterra by 41.1% in the first quarter. Spark Investment Management LLC now owns 113,700 shares of the construction company’s stock valued at $479,000 after acquiring an additional 33,100 shares during the period. 97.11% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have recently issued reports on the company. Goldman Sachs Group upgraded Forterra from a “sell” rating to a “buy” rating and boosted their price objective for the stock from $4.25 to $8.00 in a research report on Wednesday, August 7th. Barclays set a $6.00 target price on Forterra and gave the stock a “hold” rating in a report on Wednesday, May 8th. ValuEngine raised Forterra from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. BidaskClub raised Forterra from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Finally, Zacks Investment Research cut Forterra from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $7.17.

About Forterra

Forterra, Inc manufactures and sells pipe and precast products the United States, Canada, and Mexico. It operates through Drainage Pipe & Products; and Water Pipe & Products segments. It offers concrete drainage pipes used for storm water applications, residential and non-residential site developments, sanitary sewers, low-pressure sewer force mains, tunneled systems, treatment plant piping, and utility tunnels.

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