Shares of Forterra Inc (NASDAQ:FRTA) have been assigned a consensus rating of “Buy” from the eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $7.38.
A number of brokerages recently commented on FRTA. Zacks Investment Research cut Forterra from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Barclays set a $6.00 price objective on Forterra and gave the stock a “hold” rating in a research note on Wednesday, May 8th. Finally, BidaskClub raised Forterra from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 23rd.
Shares of Forterra stock traded down $0.15 during trading on Wednesday, reaching $6.50. 61,693 shares of the company were exchanged, compared to its average volume of 203,053. The company has a quick ratio of 1.14, a current ratio of 2.57 and a debt-to-equity ratio of 15.85. Forterra has a twelve month low of $3.25 and a twelve month high of $10.06. The business’s 50-day simple moving average is $5.47. The stock has a market cap of $417.94 million, a price-to-earnings ratio of -14.77 and a beta of 2.18.
Large investors have recently bought and sold shares of the business. Zacks Investment Management acquired a new position in Forterra in the fourth quarter valued at about $42,000. Principal Financial Group Inc. lifted its holdings in shares of Forterra by 22.6% in the fourth quarter. Principal Financial Group Inc. now owns 17,102 shares of the construction company’s stock valued at $64,000 after purchasing an additional 3,152 shares in the last quarter. ELCO Management Co. LLC bought a new stake in shares of Forterra in the first quarter valued at about $74,000. Paloma Partners Management Co bought a new stake in shares of Forterra in the fourth quarter valued at about $84,000. Finally, MML Investors Services LLC lifted its holdings in shares of Forterra by 16.8% in the fourth quarter. MML Investors Services LLC now owns 22,404 shares of the construction company’s stock valued at $84,000 after purchasing an additional 3,220 shares in the last quarter. 97.15% of the stock is owned by hedge funds and other institutional investors.
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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