Forterra Inc (FRTA) Stock Rating Reaffirmed by Barclays PLC

Forterra Inc (NASDAQ:FRTA)‘s stock had its “overweight” rating restated by Barclays PLC in a research note issued to investors on Wednesday, May 17th. They currently have a $18.00 price target on the construction company’s stock, down from their previous price target of $23.00. Barclays PLC’s price objective would indicate a potential upside of 180.81% from the company’s previous close.

Several other research firms have also recently issued reports on FRTA. Seaport Global Securities restated a “buy” rating and set a $23.00 price objective on shares of Forterra in a research report on Friday, April 28th. Royal Bank of Canada cut shares of Forterra from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $23.00 to $16.00 in a research report on Tuesday, May 16th. Zacks Investment Research upgraded shares of Forterra from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 9th. SunTrust Banks, Inc. cut shares of Forterra from a “buy” rating to a “hold” rating and set a $14.00 price objective for the company. in a research report on Tuesday, May 16th. Finally, Citigroup Inc. cut shares of Forterra from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $23.00 to $17.00 in a research report on Tuesday, May 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $19.22.

Analyst Recommendations for Forterra (NASDAQ:FRTA)

Forterra (NASDAQ FRTA) traded up 5.95% during trading on Wednesday, hitting $6.41. 1,228,678 shares of the company were exchanged. The stock’s 50-day moving average is $11.84 and its 200-day moving average is $17.41. The company’s market capitalization is $411.12 million. Forterra has a 12 month low of $6.01 and a 12 month high of $22.76.

Forterra (NASDAQ:FRTA) last released its quarterly earnings data on Monday, May 15th. The construction company reported ($0.31) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by $0.24. The company had revenue of $338.30 million for the quarter, compared to analysts’ expectations of $340.24 million. Equities research analysts anticipate that Forterra will post $0.34 earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in FRTA. Ladenburg Thalmann Financial Services Inc. bought a new position in shares of Forterra during the fourth quarter valued at $109,000. Manchester Capital Management LLC bought a new position in shares of Forterra during the first quarter valued at $133,000. Credit Agricole S A bought a new position in shares of Forterra during the first quarter valued at $139,000. American International Group Inc. bought a new position in shares of Forterra during the first quarter valued at $217,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in shares of Forterra during the first quarter valued at $263,000. 99.76% of the stock is owned by institutional investors.

Forterra Company Profile

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