Valeo Financial Advisors LLC increased its stake in shares of Forterra Inc (NASDAQ:FRTA) by 350.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 45,000 shares of the construction company’s stock after acquiring an additional 35,000 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Forterra were worth $203,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Swiss National Bank acquired a new stake in Forterra during the second quarter worth $326,000. Fox Run Management L.L.C. acquired a new stake in Forterra during the third quarter worth $145,000. BlackRock Inc. increased its stake in Forterra by 19.0% during the second quarter. BlackRock Inc. now owns 1,596,301 shares of the construction company’s stock worth $15,531,000 after acquiring an additional 255,108 shares during the last quarter. Guggenheim Capital LLC increased its stake in Forterra by 42.9% during the first quarter. Guggenheim Capital LLC now owns 40,362 shares of the construction company’s stock worth $336,000 after acquiring an additional 12,121 shares during the last quarter. Finally, Capital Fund Management S.A. acquired a new stake in Forterra during the second quarter worth $258,000.
Shares of NASDAQ FRTA opened at $5.27 on Friday. Forterra Inc has a twelve month low of $4.39 and a twelve month high of $12.30. The company has a quick ratio of 1.14, a current ratio of 2.15 and a debt-to-equity ratio of 11.59.
Forterra (NASDAQ:FRTA) last issued its quarterly earnings data on Wednesday, August 8th. The construction company reported $0.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.02. Forterra had a negative return on equity of 37.94% and a net margin of 1.24%. The business had revenue of $416.10 million during the quarter, compared to analysts’ expectations of $421.81 million. The firm’s revenue was down 4.7% compared to the same quarter last year. As a group, analysts predict that Forterra Inc will post -0.36 EPS for the current fiscal year.
Several equities research analysts have issued reports on FRTA shares. Oppenheimer set a $13.00 target price on Forterra and gave the stock a “buy” rating in a research note on Wednesday. BidaskClub raised Forterra from a “hold” rating to a “buy” rating in a research note on Thursday, August 2nd. Barclays raised their target price on Forterra from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Monday, August 13th. Zacks Investment Research raised Forterra from a “sell” rating to a “hold” rating in a research note on Monday, August 27th. Finally, Citigroup raised their target price on Forterra from $9.50 to $10.50 and gave the stock a “neutral” rating in a research note on Thursday, August 9th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. Forterra currently has a consensus rating of “Hold” and a consensus target price of $10.47.
Forterra, Inc manufactures and sells water and drainage pipe and products in the United States and Eastern Canada. It also manufactures structural and specialty precast products, and precast concrete bridge girders; and pressure, prestressed concrete, and bar-wrapped concrete pipes. The company serves water-related infrastructure applications, including water transmission, distribution, and drainage; and contractors, distributors, municipalities, and utilities waterworks.
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