Forterra (NASDAQ:FRTA) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
Other equities research analysts have also issued reports about the company. Zacks Investment Research raised Forterra from a “hold” rating to a “buy” rating and set a $7.75 price objective for the company in a research note on Tuesday, May 8th. Oppenheimer set a $13.00 target price on Forterra and gave the stock a “buy” rating in a research report on Tuesday, May 8th. SunTrust Banks set a $7.00 target price on Forterra and gave the stock a “hold” rating in a research report on Wednesday, March 7th. ValuEngine cut Forterra from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Finally, Goldman Sachs cut Forterra from a “neutral” rating to a “sell” rating and set a $21.00 target price for the company. in a research report on Tuesday, January 30th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. Forterra currently has a consensus rating of “Hold” and a consensus price target of $10.47.
FRTA opened at $8.74 on Wednesday. The company has a debt-to-equity ratio of 11.17, a quick ratio of 1.24 and a current ratio of 2.42. Forterra has a fifty-two week low of $8.84 and a fifty-two week high of $9.00.
Forterra (NASDAQ:FRTA) last released its quarterly earnings data on Tuesday, May 8th. The construction company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.10. The business had revenue of $289.96 million during the quarter, compared to analyst estimates of $310.89 million. Forterra had a negative return on equity of 47.37% and a net margin of 0.04%. The company’s revenue was down 14.3% compared to the same quarter last year. During the same period last year, the company posted ($0.35) EPS. analysts forecast that Forterra will post -0.2 EPS for the current fiscal year.
Institutional investors have recently modified their holdings of the company. Brightline Capital Management LLC acquired a new stake in shares of Forterra in the fourth quarter worth $2,331,000. Balter Liquid Alternatives LLC acquired a new stake in shares of Forterra in the fourth quarter worth $432,000. Virtu Financial LLC acquired a new stake in shares of Forterra in the fourth quarter worth $879,000. First Trust Advisors LP boosted its position in shares of Forterra by 10.0% in the fourth quarter. First Trust Advisors LP now owns 1,009,128 shares of the construction company’s stock worth $11,201,000 after buying an additional 91,634 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its holdings in shares of Forterra by 151.5% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 78,212 shares of the construction company’s stock worth $869,000 after acquiring an additional 47,112 shares in the last quarter.
Forterra Company Profile
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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