$316.08 Million in Sales Expected for Forterra Inc (FRTA) This Quarter

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.

COPYRIGHT VIOLATION NOTICE: This news story was originally published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this news story on another domain, it was illegally stolen and republished in violation of US & international trademark & copyright legislation. The correct version of this news story can be accessed at https://www.dispatchtribunal.com/2018/02/17/316-08-million-in-sales-expected-for-forterra-inc-frta-this-quarter.html.

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.

Get a free copy of the Zacks research report on Forterra (FRTA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Forterra Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forterra and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply