Forterra Inc (FRTA) Downgraded by Zacks Investment Research
Forterra Inc (NASDAQ:FRTA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Monday.
According to Zacks, “Forterra, Inc. is a manufacturer of concrete and clay building products. It operates primarily in the United States, Canada and the United Kingdom. Forterra, Inc. is headquartered in Irving, Texas. “
Separately, Barclays PLC assumed coverage on Forterra in a research report on Thursday, January 5th. They set an “overweight” rating for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $21.71.
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Forterra (NASDAQ:FRTA) traded down 1.86% during midday trading on Monday, reaching $18.96. 115,800 shares of the company traded hands. The firm has a 50-day moving average price of $19.24 and a 200-day moving average price of $19.16. The firm has a market capitalization of $1.21 billion and a price-to-earnings ratio of 98.24. Forterra has a one year low of $16.24 and a one year high of $22.76.
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Large investors have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. acquired a new stake in shares of Forterra during the fourth quarter valued at about $109,000. Metropolitan Life Insurance Co. NY acquired a new stake in shares of Forterra during the fourth quarter valued at about $410,000. Marshall Wace LLP acquired a new stake in shares of Forterra during the fourth quarter valued at about $551,000. Peregrine Asset Advisers Inc. acquired a new stake in shares of Forterra during the fourth quarter valued at about $676,000. Finally, BlueMar Capital Management LLC acquired a new stake in shares of Forterra during the fourth quarter valued at about $882,000. 3.99% of the stock is owned by hedge funds and other institutional investors.
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