Forterra (NASDAQ:FRTA) Rating Increased to Hold at ValuEngine

ValuEngine upgraded shares of Forterra (NASDAQ:FRTA) from a sell rating to a hold rating in a research note issued to investors on Thursday morning, ValuEngine reports.

A number of other brokerages also recently commented on FRTA. TheStreet upgraded Forterra from a d+ rating to a c- rating in a research report on Monday, February 3rd. BidaskClub upgraded Forterra from a strong sell rating to a sell rating in a research report on Friday, March 27th. Goldman Sachs Group reduced their price objective on Forterra from $14.75 to $7.00 and set a neutral rating on the stock in a research report on Thursday, March 19th. Berenberg Bank started coverage on Forterra in a research report on Tuesday, January 14th. They set a buy rating and a $16.00 price objective on the stock. Finally, Royal Bank of Canada restated a hold rating and issued a $8.00 target price on shares of Forterra in a research report on Wednesday, March 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Forterra has an average rating of Hold and an average target price of $10.67.

Shares of NASDAQ FRTA traded up $0.19 during midday trading on Thursday, hitting $5.58. The stock had a trading volume of 806,346 shares, compared to its average volume of 453,858. The company has a market capitalization of $355.70 million, a PE ratio of -46.50 and a beta of 2.56. The stock has a 50 day simple moving average of $10.02 and a 200-day simple moving average of $10.33. Forterra has a 1 year low of $3.45 and a 1 year high of $19.00. The company has a quick ratio of 1.15, a current ratio of 2.20 and a debt-to-equity ratio of 11.09.

Forterra (NASDAQ:FRTA) last released its earnings results on Wednesday, February 26th. The construction company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.01). The firm had revenue of $363.15 million during the quarter, compared to analysts’ expectations of $341.00 million. Forterra had a negative net margin of 0.48% and a negative return on equity of 6.08%. As a group, analysts expect that Forterra will post 0.69 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of FRTA. Tower Research Capital LLC TRC raised its position in Forterra by 2,552.3% in the third quarter. Tower Research Capital LLC TRC now owns 4,005 shares of the construction company’s stock valued at $29,000 after purchasing an additional 3,854 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Forterra in the fourth quarter valued at $31,000. Marshall Wace North America L.P. acquired a new stake in shares of Forterra in the fourth quarter valued at $37,000. Citigroup Inc. grew its stake in shares of Forterra by 46.0% in the fourth quarter. Citigroup Inc. now owns 3,788 shares of the construction company’s stock valued at $44,000 after buying an additional 1,194 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in shares of Forterra by 104.8% in the fourth quarter. Bank of Montreal Can now owns 4,478 shares of the construction company’s stock valued at $51,000 after buying an additional 98,300 shares in the last quarter. Institutional investors own 98.54% of the company’s stock.

Forterra Company Profile

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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Analyst Recommendations for Forterra (NASDAQ:FRTA)

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