Forterra (NASDAQ:FRTA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Zacks.com reports.
According to Zacks, “Forterra, Inc. is a manufacturer of concrete and clay building products. It operates primarily in the United States, Canada and the United Kingdom. Forterra, Inc. is headquartered in Irving, Texas. “
A number of other analysts also recently issued reports on the company. BidaskClub raised Forterra from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 18th. Barclays set a $6.00 price objective on Forterra and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Finally, Citigroup raised their price objective on Forterra from $4.50 to $5.50 and gave the stock a “neutral” rating in a research report on Thursday, March 14th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $6.85.
Shares of FRTA opened at $4.77 on Friday. Forterra has a 52-week low of $3.25 and a 52-week high of $10.47. The firm has a market capitalization of $309.92 million, a price-to-earnings ratio of -10.84 and a beta of 2.31. The company has a debt-to-equity ratio of 15.85, a current ratio of 2.57 and a quick ratio of 1.14.
Forterra (NASDAQ:FRTA) last issued its earnings results on Monday, May 6th. The construction company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.15. Forterra had a negative return on equity of 26.15% and a negative net margin of 1.99%. The business had revenue of $291.90 million during the quarter, compared to the consensus estimate of $275.84 million. During the same period last year, the company earned ($0.31) EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis. On average, sell-side analysts forecast that Forterra will post -0.41 EPS for the current fiscal year.
Large investors have recently modified their holdings of the stock. Zacks Investment Management acquired a new stake in shares of Forterra during the 4th quarter worth about $42,000. Principal Financial Group Inc. increased its position in shares of Forterra by 22.6% during the 4th quarter. Principal Financial Group Inc. now owns 17,102 shares of the construction company’s stock worth $64,000 after purchasing an additional 3,152 shares during the last quarter. ELCO Management Co. LLC acquired a new position in Forterra in the 1st quarter valued at about $74,000. Paloma Partners Management Co acquired a new position in Forterra in the 4th quarter valued at about $84,000. Finally, MML Investors Services LLC grew its position in Forterra by 16.8% in the 4th quarter. MML Investors Services LLC now owns 22,404 shares of the construction company’s stock valued at $84,000 after acquiring an additional 3,220 shares in the last quarter. 97.19% of the stock is owned by hedge funds and other institutional investors.
Forterra Company Profile
Forterra, Inc manufactures and sells pipe and precast products the United States, Canada, and Mexico. It operates through Drainage Pipe & Products; and Water Pipe & Products segments. It offers concrete drainage pipes used for storm water applications, residential and non-residential site developments, sanitary sewers, low-pressure sewer force mains, tunneled systems, treatment plant piping, and utility tunnels.
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