Weekly Research Analysts’ Ratings Changes for Forterra (FRTA)

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A number of firms have modified their ratings and price targets on shares of Forterra (NASDAQ: FRTA) recently:

  • 5/24/2019 – Forterra was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 5/23/2019 – Forterra was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. 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. “
  • 5/18/2019 – Forterra was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 5/17/2019 – Forterra was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. 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. “
  • 5/9/2019 – Forterra was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 5/8/2019 – Forterra was given a new $6.00 price target on by analysts at Barclays PLC. They now have a “hold” rating on the stock.
  • 4/19/2019 – Forterra was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.

Shares of FRTA stock traded down $0.02 on Thursday, hitting $5.00. 1,810 shares of the company’s stock were exchanged, compared to its average volume of 156,676. The company has a quick ratio of 1.14, a current ratio of 2.57 and a debt-to-equity ratio of 15.85. Forterra Inc has a 12 month low of $3.25 and a 12 month high of $10.47. The company has a market cap of $321.49 million, a P/E ratio of -11.36 and a beta of 2.78.

Forterra (NASDAQ:FRTA) last released its earnings results on Monday, May 6th. The construction company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.15. Forterra had a negative return on equity of 26.15% and a negative net margin of 1.99%. The business had revenue of $291.90 million during the quarter, compared to analysts’ expectations of $275.84 million. During the same quarter last year, the firm posted ($0.31) earnings per share. The firm’s revenue was up .7% on a year-over-year basis. As a group, equities research analysts anticipate that Forterra Inc will post -0.41 earnings per share for the current fiscal year.

In related news, VP Lori M. Browne purchased 6,118 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was bought at an average price of $4.38 per share, for a total transaction of $26,796.84. Following the completion of the transaction, the vice president now owns 41,486 shares in the company, valued at approximately $181,708.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeff Bradley purchased 40,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was bought at an average price of $3.80 per share, with a total value of $152,000.00. Following the transaction, the chief executive officer now owns 195,184 shares of the company’s stock, valued at approximately $741,699.20. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 82,863 shares of company stock worth $331,656. 0.84% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FRTA. Zacks Investment Management acquired a new position in Forterra during the fourth quarter valued at $42,000. Principal Financial Group Inc. raised its holdings in Forterra by 22.6% in the fourth quarter. Principal Financial Group Inc. now owns 17,102 shares of the construction company’s stock valued at $64,000 after acquiring an additional 3,152 shares in the last quarter. D.A. Davidson & CO. raised its holdings in Forterra by 22.6% in the fourth quarter. D.A. Davidson & CO. now owns 19,000 shares of the construction company’s stock valued at $71,000 after acquiring an additional 3,500 shares in the last quarter. ELCO Management Co. LLC acquired a new stake in shares of Forterra during the first quarter worth $74,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Forterra during the fourth quarter worth $84,000. Institutional investors own 97.19% of the company’s stock.

Forterra, Inc manufactures and sells pipe and precast products the United States, Canada, and Mexico. It operates through Drainage Pipe & Products; and Water Pipe & Products segments. It offers concrete drainage pipes used for storm water applications, residential and non-residential site developments, sanitary sewers, low-pressure sewer force mains, tunneled systems, treatment plant piping, and utility tunnels.

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