Forterra (FRTA) Price Target Increased to $8.00 by Analysts at Deutsche Bank

Forterra (NASDAQ:FRTA) had its target price hoisted by Deutsche Bank from $7.00 to $8.00 in a research note published on Monday morning. The firm currently has a hold rating on the construction company’s stock.

Other equities analysts have also recently issued reports about the company. BidaskClub upgraded Forterra from a hold rating to a buy rating in a report on Friday, April 20th. Zacks Investment Research upgraded Forterra from a hold rating to a buy rating and set a $7.75 price objective for the company in a report on Tuesday, May 8th. Oppenheimer set a $13.00 price objective on Forterra and gave the stock a buy rating in a report on Tuesday, May 8th. ValuEngine upgraded Forterra from a hold rating to a buy rating in a report on Thursday, June 7th. Finally, SunTrust Banks set a $7.00 target price on Forterra and gave the company a hold rating in a report on Wednesday, March 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. Forterra has a consensus rating of Hold and an average target price of $10.19.

Forterra opened at $9.74 on Monday, according to MarketBeat Ratings. Forterra has a 12-month low of $3.02 and a 12-month high of $12.30. The company has a debt-to-equity ratio of 11.17, a current ratio of 2.42 and a quick ratio of 1.24. The stock has a market capitalization of $635.82 million, a PE ratio of -12.33 and a beta of 1.05.

Forterra (NASDAQ:FRTA) last posted its quarterly earnings data on Tuesday, May 8th. The construction company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.10. Forterra had a negative return on equity of 47.37% and a net margin of 0.04%. The firm had revenue of $289.96 million during the quarter, compared to analysts’ expectations of $310.89 million. During the same period in the prior year, the business earned ($0.35) EPS. The company’s revenue for the quarter was down 14.3% compared to the same quarter last year. equities research analysts expect that Forterra will post -0.19 EPS for the current year.

A number of hedge funds have recently modified their holdings of the stock. Electron Capital Partners LLC boosted its holdings in Forterra by 97.1% during the 4th quarter. Electron Capital Partners LLC now owns 1,083,005 shares of the construction company’s stock valued at $12,021,000 after acquiring an additional 533,623 shares during the period. First Trust Advisors LP boosted its holdings in Forterra by 10.0% during the 4th quarter. First Trust Advisors LP now owns 1,009,128 shares of the construction company’s stock valued at $11,201,000 after acquiring an additional 91,634 shares during the period. Taylor Asset Management Inc. boosted its holdings in Forterra by 1,418.8% during the 1st quarter. Taylor Asset Management Inc. now owns 443,176 shares of the construction company’s stock valued at $3,253,000 after acquiring an additional 413,997 shares during the period. Millennium Management LLC purchased a new stake in Forterra during the 1st quarter valued at about $774,000. Finally, GSA Capital Partners LLP purchased a new stake in Forterra during the 1st quarter valued at about $760,000.

About Forterra

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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