Forterra plc (NASDAQ:FRTA) has been given an average rating of “Hold” by the ten research firms that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $12.29.
A number of brokerages have recently commented on FRTA. Zacks Investment Research downgraded shares of Forterra from a “hold” rating to a “sell” rating in a research note on Monday, March 19th. SunTrust Banks set a $7.00 target price on shares of Forterra and gave the company a “hold” rating in a research note on Wednesday, March 7th. Barclays set a $8.00 target price on shares of Forterra and gave the company a “hold” rating in a research note on Monday, January 8th. BidaskClub raised shares of Forterra from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 3rd. Finally, ValuEngine downgraded shares of Forterra from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd.
A number of institutional investors have recently added to or reduced their stakes in FRTA. State Street Corp increased its stake in Forterra by 6.7% during the 2nd quarter. State Street Corp now owns 290,531 shares of the construction company’s stock worth $2,390,000 after buying an additional 18,161 shares during the period. Ameriprise Financial Inc. increased its stake in Forterra by 125.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 792,324 shares of the construction company’s stock worth $3,566,000 after buying an additional 440,300 shares during the period. Citadel Advisors LLC increased its stake in Forterra by 370.6% during the 3rd quarter. Citadel Advisors LLC now owns 62,761 shares of the construction company’s stock worth $282,000 after buying an additional 49,425 shares during the period. Brave Asset Management Inc. purchased a new stake in Forterra during the 3rd quarter worth $163,000. Finally, Royce & Associates LP purchased a new stake in Forterra during the 3rd quarter worth $1,701,000.
Shares of FRTA stock opened at $8.31 on Wednesday. Forterra has a 52 week low of $3.02 and a 52 week high of $20.47. The company has a quick ratio of 1.41, a current ratio of 2.39 and a debt-to-equity ratio of 9.54.
Forterra (NASDAQ:FRTA) last issued its earnings results on Wednesday, March 7th. The construction company reported ($0.28) EPS 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 period in the prior year, the business posted ($0.81) EPS. The business’s revenue was up 2.0% on a year-over-year basis. research analysts predict that Forterra will post -0.18 earnings per share for the current fiscal 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.
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