Forterra (NASDAQ:FRTA) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Wednesday.
Other analysts have also recently issued reports about the company. Zacks Investment Research upgraded Forterra from a “hold” rating to a “buy” rating and set a $7.75 target price on the stock in a research report on Tuesday, May 8th. Oppenheimer set a $13.00 price target on Forterra and gave the company a “buy” rating in a research note on Tuesday, May 8th. SunTrust Banks set a $7.00 price target on Forterra and gave the company a “hold” rating in a research note on Wednesday, March 7th. ValuEngine lowered Forterra from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Finally, Goldman Sachs lowered Forterra from a “neutral” rating to a “sell” rating and set a $21.00 price target for the company. in a research note on Tuesday, January 30th. Two 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. The stock has a consensus rating of “Hold” and a consensus price target of $10.47.
FRTA opened at $8.74 on Wednesday. Forterra has a 12 month low of $8.84 and a 12 month high of $9.00. 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 (NASDAQ:FRTA) last posted its earnings results on Tuesday, May 8th. The construction company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.10. Forterra had a negative return on equity of 47.37% and a net margin of 0.04%. The firm had revenue of $289.96 million for the quarter, compared to analysts’ expectations of $310.89 million. During the same period last year, the firm earned ($0.35) EPS. The firm’s revenue was down 14.3% compared to the same quarter last year. analysts anticipate that Forterra will post -0.2 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank of Montreal Can boosted its stake in Forterra by 379.5% during the 4th quarter. Bank of Montreal Can now owns 9,590 shares of the construction company’s stock valued at $107,000 after purchasing an additional 7,590 shares in the last quarter. Rehmann Capital Advisory Group bought a new position in Forterra during the 4th quarter valued at $124,000. Jane Street Group LLC bought a new position in Forterra during the 1st quarter valued at $100,000. Guggenheim Capital LLC boosted its stake in Forterra by 42.9% during the 1st quarter. Guggenheim Capital LLC now owns 40,362 shares of the construction company’s stock valued at $336,000 after purchasing an additional 12,121 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Forterra by 415.1% during the 1st quarter. Barclays PLC now owns 15,252 shares of the construction company’s stock worth $128,000 after acquiring an additional 12,291 shares in the last quarter.
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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