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.
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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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.
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