Trade Report: Today, Forterra Inc’s (FRTA) Quiet Period Set To End on November 29th

Today, Forterra Inc’s (FRTA) Quiet Period Set To End  on November 29th

Forterra’s (NASDAQ:FRTA) quiet period will expire on Tuesday, November 29th. Forterra had issued 18,420,000 shares in its public offering on October 20th. The total size of the offering was $331,560,000 based on an initial share price of $18.00. During Forterra’s quiet period, underwriters and any insiders that worked on the IPO are restricted from issuing any research reports or earnings estimates for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

A number of brokerages have recently weighed in on FRTA. Oppenheimer Holdings Inc. began coverage on shares of Forterra in a report on Monday, November 14th. They issued an “outperform” rating and a $23.00 price objective on the stock. SunTrust Banks Inc. began coverage on shares of Forterra in a report on Monday, November 14th. They issued a “buy” rating and a $23.00 price objective on the stock. Stephens began coverage on shares of Forterra in a report on Friday, November 18th. They issued an “equal weight” rating on the stock. Deutsche Bank AG began coverage on shares of Forterra in a report on Monday, November 14th. They issued a “hold” rating and a $20.00 price objective on the stock. Finally, Citigroup Inc. began coverage on shares of Forterra in a report on Monday, November 14th. They issued a “buy” rating and a $22.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Forterra presently has an average rating of “Buy” and an average price target of $21.86.

Shares of Forterra (NASDAQ:FRTA) opened at 19.85 on Friday. The company’s 50-day moving average is $17.67 and its 200 day moving average is $17.67. Forterra has a 52 week low of $16.24 and a 52 week high of $19.95. The firm has a market capitalization of $1.27 billion and a price-to-earnings ratio of 102.85.

In related news, major shareholder John P. Grayken sold 262,224 shares of the business’s stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $17.01, for a total value of $4,460,430.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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