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.
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.
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