Equities research analysts expect that Forterra Inc (NASDAQ:FRTA) will report $316.08 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Forterra’s earnings. The lowest sales estimate is $309.80 million and the highest is $322.36 million. The company is expected to announce its next earnings report on Wednesday, February 14th.
According to Zacks, analysts expect that Forterra will report full year sales of $316.08 million for the current fiscal year, with estimates ranging from $1.53 billion to $1.54 billion. For the next year, analysts forecast that the company will post sales of $1.58 billion per share, with estimates ranging from $1.57 billion to $1.59 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Forterra.
A number of brokerages have commented on FRTA. ValuEngine lowered shares of Forterra from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. BidaskClub lowered shares of Forterra from a “hold” rating to a “sell” rating in a report on Friday, January 26th. Barclays boosted their price objective on shares of Forterra from $4.00 to $7.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 14th. Citigroup boosted their price objective on shares of Forterra from $4.00 to $9.00 and gave the stock a “buy” rating in a report on Friday, November 10th. Finally, Zacks Investment Research upgraded shares of Forterra from a “hold” rating to a “buy” rating and set a $8.50 price objective on the stock in a report on Thursday, November 9th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $12.69.
Forterra (NASDAQ FRTA) opened at $7.96 on Friday. Forterra has a 1-year low of $3.02 and a 1-year high of $20.60. The company has a debt-to-equity ratio of 15.19, a current ratio of 2.56 and a quick ratio of 1.43. The company has a market cap of $511.66 and a price-to-earnings ratio of -4.71.
Institutional investors have recently modified their holdings of the company. Adams Asset Advisors LLC acquired a new stake in shares of Forterra in the 3rd quarter valued at about $914,000. Goldman Sachs Group Inc. raised its stake in shares of Forterra by 88.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 425,456 shares of the construction company’s stock valued at $3,502,000 after purchasing an additional 199,520 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Forterra by 11.3% in the 2nd quarter. Vanguard Group Inc. now owns 1,639,962 shares of the construction company’s stock valued at $13,497,000 after purchasing an additional 166,558 shares in the last quarter. Swiss National Bank acquired a new stake in shares of Forterra in the 2nd quarter valued at about $264,000. Finally, Ameriprise Financial Inc. raised its stake in shares of Forterra by 117.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 352,024 shares of the construction company’s stock valued at $2,897,000 after purchasing an additional 189,854 shares in 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.
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