Forterra Inc (FRTA) Receives Average Recommendation of “Hold” from Brokerages

Forterra Inc (NASDAQ:FRTA) has been assigned an average rating of “Hold” from the ten ratings firms that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $13.29.

A number of brokerages have recently commented on FRTA. BidaskClub raised shares of Forterra from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 3rd. Royal Bank of Canada raised their price target on shares of Forterra from $3.50 to $8.00 and gave the company a “market perform” rating in a report on Thursday, November 9th. Barclays raised their price target 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. Citigroup raised their price target on shares of Forterra from $4.00 to $9.00 and gave the company a “buy” rating in a report on Friday, November 10th. Finally, Zacks Investment Research raised shares of Forterra from a “hold” rating to a “buy” rating and set a $8.50 price target for the company in a report on Thursday, November 9th.

Shares of Forterra (FRTA) traded down $0.11 during mid-day trading on Tuesday, hitting $7.27. 373,100 shares of the stock were exchanged, compared to its average volume of 744,187. Forterra has a fifty-two week low of $3.02 and a fifty-two week high of $20.60. The company has a debt-to-equity ratio of 15.19, a quick ratio of 1.43 and a current ratio of 2.56. The stock has a market cap of $471.16 and a P/E ratio of -4.34.

A number of large investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. raised its position in shares of Forterra by 0.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 68,072 shares of the construction company’s stock worth $561,000 after buying an additional 418 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Forterra by 28.7% in the 2nd quarter. Rhumbline Advisers now owns 19,598 shares of the construction company’s stock worth $161,000 after purchasing an additional 4,365 shares during the last quarter. Swiss National Bank acquired a new position in shares of Forterra in the 2nd quarter worth approximately $264,000. Alliancebernstein L.P. acquired a new position in shares of Forterra in the 2nd quarter worth approximately $331,000. Finally, Teachers Advisors LLC grew its stake in shares of Forterra by 6.2% in the 2nd quarter. Teachers Advisors LLC now owns 36,867 shares of the construction company’s stock worth $303,000 after purchasing an additional 2,162 shares during the last quarter.

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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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