Fletcher Building (OTCMKTS:FRCEF) Trading Down 3.9% – Here’s What Happened

Fletcher Building Limited (OTCMKTS:FRCEF)’s stock price fell 3.9% during mid-day trading on Thursday . The stock traded as low as $2.10 and last traded at $2.10. 250 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 2,417 shares. The stock had previously closed at $2.1850.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley cut Fletcher Building to an “underweight” rating in a research report on Wednesday, January 28th. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell” and an average price target of $2.85.

Fletcher Building Stock Performance

The firm has a fifty day moving average price of $1.78 and a two-hundred day moving average price of $1.75.

Fletcher Building Company Profile

Fletcher Building Limited (OTCMKTS:FRCEF) is a leading integrated building materials and construction company headquartered in Auckland, New Zealand. The company operates through a diversified portfolio that spans manufacturing, distribution, construction and infrastructure services, serving residential, commercial and industrial markets across Australasia and the Pacific Islands.

In its building products division, Fletcher Building produces gypsum plasterboard, fibre cement, roofing, insulation and aluminium joinery under well-known brands such as Laminex and Firth.