BidaskClub Downgrades Forterra (FRTA) to Hold

Forterra (NASDAQ:FRTA) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Friday.

Other equities research analysts have also recently issued research reports about the stock. Citigroup lifted their price objective 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. Zacks Investment Research raised shares of Forterra from a “hold” rating to a “buy” rating and set a $8.50 target price for the company in a report on Thursday, November 9th. Barclays raised their target price on shares of Forterra from $4.00 to $7.00 and gave the company an “equal weight” rating in a report on Tuesday, November 14th. Stephens reissued an “equal weight” rating and issued a $9.00 target price (up from $4.00) on shares of Forterra in a report on Wednesday, November 15th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $9.00 target price on shares of Forterra in a report on Wednesday, November 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. Forterra presently has a consensus rating of “Hold” and an average target price of $11.50.

Forterra (NASDAQ FRTA) traded up $0.04 during trading on Friday, hitting $9.48. 210,084 shares of the stock traded hands, compared to its average volume of 567,974. The company has a current ratio of 2.56, a quick ratio of 1.43 and a debt-to-equity ratio of 15.19. Forterra has a 52-week low of $3.02 and a 52-week high of $20.60.

Forterra (NASDAQ:FRTA) last released its quarterly earnings data 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 net margin of 5.97% and a negative return on equity of 69.57%. analysts anticipate that Forterra will post -0.37 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of the stock. Capital World Investors purchased a new position in Forterra during the second quarter worth $25,249,000. Frontier Capital Management Co. LLC purchased a new position in Forterra during the third quarter worth $9,813,000. Redwood Capital Management LLC purchased a new position in Forterra during the second quarter worth $7,700,000. First Trust Advisors LP purchased a new position in Forterra during the third quarter worth $4,129,000. Finally, SG Capital Management LLC purchased a new position in Forterra during the third quarter worth $2,664,000. 99.85% of the stock is owned by hedge funds and other institutional investors.

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Forterra Company Profile

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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