Karl Watson Buys 65,200 Shares of Forterra Inc (NASDAQ:FRTA) Stock

Forterra Inc (NASDAQ:FRTA) CEO Karl Watson acquired 65,200 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was purchased at an average cost of $6.94 per share, for a total transaction of $452,488.00. Following the completion of the acquisition, the chief executive officer now owns 65,200 shares in the company, valued at $452,488. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

NASDAQ FRTA traded up $0.19 on Tuesday, reaching $6.98. The stock had a trading volume of 195,519 shares, compared to its average volume of 210,456. The stock’s fifty day moving average is $5.86. The stock has a market capitalization of $457.98 million, a P/E ratio of -15.86 and a beta of 2.18. The company has a debt-to-equity ratio of 14.94, a quick ratio of 1.26 and a current ratio of 2.47. Forterra Inc has a 1-year low of $3.25 and a 1-year high of $9.71.

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



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

Large investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in shares of Forterra by 22.6% during the 4th 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 New York Mellon Corp lifted its position in shares of Forterra by 77.6% during the 4th 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. Bank of America Corp DE lifted its position in shares of Forterra by 1,606.2% during the 4th 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. Royce & Associates LP lifted its position in shares of Forterra by 4.1% during the 1st quarter. Royce & Associates LP now owns 2,293,718 shares of the construction company’s stock valued at $9,679,000 after acquiring an additional 91,351 shares during the period. Finally, Spark Investment Management LLC lifted its position in shares of Forterra by 41.1% during the 1st 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. Hedge funds and other institutional investors own 97.11% of the company’s stock.

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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