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.
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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