Forterra (NASDAQ:FRTA) had its target price hoisted by research analysts at SunTrust Banks from $5.00 to $10.00 in a research report issued to clients and investors on Tuesday, The Fly reports. The firm presently has a “hold” rating on the construction company’s stock. SunTrust Banks’ price target points to a potential downside of 11.58% from the company’s current price. SunTrust Banks also issued estimates for Forterra’s Q2 2020 earnings at $0.17 EPS, Q1 2021 earnings at ($0.22) EPS, Q2 2021 earnings at $0.21 EPS, Q3 2021 earnings at $0.38 EPS and FY2021 earnings at $0.35 EPS.
Other research analysts have also issued reports about the stock. ValuEngine lowered shares of Forterra from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Zacks Investment Research lowered shares of Forterra from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. BidaskClub raised shares of Forterra from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. Finally, Goldman Sachs Group raised shares of Forterra from a “sell” rating to a “buy” rating and raised their target price for the stock from $4.25 to $8.00 in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $7.33.
FRTA opened at $11.31 on Tuesday. The company has a debt-to-equity ratio of 14.94, a current ratio of 2.47 and a quick ratio of 1.26. The company’s 50 day simple moving average is $7.75 and its two-hundred day simple moving average is $6.18. Forterra has a 1-year low of $3.25 and a 1-year high of $11.41.
Forterra (NASDAQ:FRTA) last released its earnings results on Monday, November 4th. The construction company reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.23. Forterra had a negative net margin of 1.10% and a negative return on equity of 16.58%. The business had revenue of $464.50 million for the quarter, compared to analyst estimates of $439.68 million. During the same period last year, the company posted $0.09 EPS. The business’s revenue was up 6.9% on a year-over-year basis. Equities research analysts anticipate that Forterra will post -0.42 EPS for the current year.
In other news, CEO Karl Watson purchased 8,465 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was acquired at an average price of $6.24 per share, for a total transaction of $52,821.60. Following the acquisition, the chief executive officer now directly owns 237,265 shares of the company’s stock, valued at $1,480,533.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Clinton D. Mcdonnough purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were purchased at an average price of $6.84 per share, with a total value of $68,400.00. Following the acquisition, the director now directly owns 40,902 shares in the company, valued at $279,769.68. The disclosure for this purchase can be found here. Insiders have bought a total of 93,665 shares of company stock valued at $633,110 in the last 90 days. Insiders own 1.80% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its holdings in shares of Forterra by 2,552.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,005 shares of the construction company’s stock worth $29,000 after buying an additional 3,854 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of Forterra by 10.6% during the 3rd quarter. California Public Employees Retirement System now owns 79,536 shares of the construction company’s stock worth $575,000 after buying an additional 7,636 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of Forterra during the 3rd quarter worth approximately $266,000. Water Asset Management LLC increased its holdings in shares of Forterra by 196.2% during the 2nd quarter. Water Asset Management LLC now owns 468,121 shares of the construction company’s stock worth $2,327,000 after buying an additional 310,089 shares during the last quarter. Finally, Citadel Advisors LLC increased its holdings in Forterra by 206.2% in the 2nd quarter. Citadel Advisors LLC now owns 107,027 shares of the construction company’s stock valued at $532,000 after purchasing an additional 72,071 shares during the last quarter. Institutional investors and hedge funds own 96.09% of the company’s stock.
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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