Forterra Inc (FRTA) Rating Lowered to Hold at ValuEngine

Forterra Inc (NASDAQ:FRTA) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Other analysts have also issued reports about the stock. Seaport Global Securities reissued a “buy” rating and set a $23.00 target price on shares of Forterra in a research note on Friday, April 28th. Citigroup Inc. boosted their target price on shares of Forterra from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, April 3rd. Royal Bank Of Canada reissued a “buy” rating and set a $23.00 target price on shares of Forterra in a research note on Friday, March 24th. SunTrust Banks, Inc. lowered shares of Forterra from a “buy” rating to a “hold” rating and set a $14.00 target price for the company. in a research note on Tuesday, May 16th. Finally, Zacks Investment Research raised shares of Forterra from a “sell” rating to a “hold” rating in a research note on Friday, May 26th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $17.61.

Forterra (NASDAQ:FRTA) traded up 3.80% during midday trading on Thursday, hitting $9.02. 543,876 shares of the stock traded hands. Forterra has a 52-week low of $6.01 and a 52-week high of $22.76. The firm’s 50-day moving average is $7.67 and its 200-day moving average is $15.39. The company’s market cap is $578.52 million.

Forterra (NASDAQ:FRTA) last issued its earnings results on Monday, May 15th. The construction company reported ($0.31) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by $0.24. The firm had revenue of $338.30 million for the quarter, compared to analysts’ expectations of $340.24 million. Analysts predict that Forterra will post $0.31 EPS for the current year.

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A number of hedge funds have recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. acquired a new stake in Forterra during the fourth quarter worth $109,000. Manchester Capital Management LLC acquired a new stake in Forterra during the first quarter worth $133,000. Credit Agricole S A acquired a new stake in Forterra during the first quarter worth $139,000. American International Group Inc. acquired a new stake in Forterra during the first quarter worth $217,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in Forterra during the first quarter worth $263,000. 99.76% of the stock is owned by institutional investors.

Forterra Company Profile