Forterra (NASDAQ:FRTA) Lowered to Buy at BidaskClub

BidaskClub cut shares of Forterra (NASDAQ:FRTA) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday, January 13th.

Several other analysts have also issued reports on FRTA. ValuEngine lowered shares of Forterra from a hold rating to a sell rating in a research report on Monday, October 2nd. Barclays set a $8.00 target price on shares of Forterra and gave the company a hold rating in a research report on Monday, January 8th. Citigroup lifted their target price on shares of Forterra from $4.00 to $9.00 and gave the company a buy rating in a research report on Friday, November 10th. Royal Bank of Canada reiterated a hold rating and set a $3.50 target price on shares of Forterra in a research report on Tuesday, October 10th. Finally, Zacks Investment Research lowered shares of Forterra from a buy rating to a hold rating in a research report on Monday, January 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $11.50.

Shares of Forterra (NASDAQ FRTA) opened at $9.48 on Friday. The company has a quick ratio of 1.43, a current ratio of 2.56 and a debt-to-equity ratio of 15.19. Forterra has a 12-month low of $3.02 and a 12-month high of $20.60.

Forterra (NASDAQ:FRTA) last posted its quarterly earnings results on Wednesday, November 8th. The construction company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.20). Forterra had a negative return on equity of 69.57% and a negative net margin of 5.97%. equities analysts expect that Forterra will post -0.37 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in FRTA. Capital World Investors acquired a new position in Forterra in the second quarter valued at about $25,249,000. Frontier Capital Management Co. LLC acquired a new position in Forterra in the third quarter valued at about $9,813,000. Redwood Capital Management LLC acquired a new position in Forterra in the second quarter valued at about $7,700,000. First Trust Advisors LP acquired a new position in Forterra in the third quarter valued at about $4,129,000. Finally, SG Capital Management LLC bought a new position in shares of Forterra in the third quarter worth about $2,664,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

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About Forterra

Forterra, Inc is a manufacturer of pipe and precast products. The Company offers products for a range of water-related infrastructure applications, including water transmission, distribution and drainage. The Company operates approximately 95 facilities. Its products are available in the United States and Eastern Canada.

Analyst Recommendations for Forterra (NASDAQ:FRTA)

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