Forterra plc (FRTA) Receives $12.29 Consensus Price Target from Brokerages

Shares of Forterra plc (NASDAQ:FRTA) have earned an average recommendation of “Hold” from the ten research firms that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $12.29.

A number of analysts recently weighed in on the company. BidaskClub upgraded Forterra from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 3rd. Zacks Investment Research downgraded Forterra from a “hold” rating to a “sell” rating in a research note on Monday, March 19th. SunTrust Banks set a $7.00 price target on Forterra and gave the company a “hold” rating in a research note on Wednesday, March 7th. ValuEngine downgraded Forterra from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Finally, Barclays set a $8.00 price objective on Forterra and gave the stock a “hold” rating in a report on Monday, January 8th.

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Hedge funds have recently modified their holdings of the stock. Bank of Montreal Can raised its holdings in Forterra by 379.5% during the fourth quarter. Bank of Montreal Can now owns 9,590 shares of the construction company’s stock worth $107,000 after purchasing an additional 7,590 shares during the last quarter. Rehmann Capital Advisory Group acquired a new position in Forterra during the fourth quarter worth $124,000. Two Sigma Investments LP acquired a new position in Forterra during the fourth quarter worth $139,000. Ellington Management Group LLC acquired a new position in shares of Forterra in the fourth quarter worth $161,000. Finally, Brave Asset Management Inc. acquired a new position in shares of Forterra in the third quarter worth $163,000.

Shares of FRTA stock traded down $0.05 during midday trading on Wednesday, hitting $8.26. The company had a trading volume of 35,167 shares, compared to its average volume of 574,044. The company has a current ratio of 2.39, a quick ratio of 1.41 and a debt-to-equity ratio of 9.54. Forterra has a 52-week low of $3.02 and a 52-week high of $20.47.

Forterra (NASDAQ:FRTA) last posted its quarterly earnings results on Wednesday, March 7th. The construction company reported ($0.28) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.05). Forterra had a negative net margin of 0.13% and a negative return on equity of 44.06%. The business had revenue of $361.17 million during the quarter, compared to analysts’ expectations of $327.91 million. During the same quarter last year, the firm earned ($0.81) earnings per share. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. research analysts predict that Forterra will post -0.18 earnings per share for the current year.

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Forterra Company Profile

Forterra, Inc manufactures and sells water and drainage pipe and products in the United States and Eastern Canada. It also manufactures structural and specialty precast products, and precast concrete bridge girders; and pressure, prestressed concrete, and bar-wrapped concrete pipes. The company serves water-related infrastructure applications, including water transmission, distribution, and drainage; and contractors, distributors, municipalities, and utilities waterworks.

Analyst Recommendations for Forterra (NASDAQ:FRTA)

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