Forterra (FRTA) Lifted to Strong-Buy at BidaskClub

Forterra (NASDAQ:FRTA) was upgraded by BidaskClub from a “buy” rating to a “strong-buy” rating in a report issued on Wednesday.

A number of other equities research analysts have also weighed in on FRTA. Zacks Investment Research upgraded Forterra from a “sell” rating to a “hold” rating in a research note on Thursday, September 7th. ValuEngine downgraded Forterra from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. Royal Bank of Canada reaffirmed a “hold” rating and set a $3.50 target price on shares of Forterra in a report on Tuesday, October 10th. Citigroup increased their target price on Forterra from $4.00 to $9.00 and gave the stock a “buy” rating in a report on Friday, November 10th. Finally, Barclays increased their target price on Forterra from $4.00 to $7.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Forterra currently has an average rating of “Hold” and a consensus target price of $11.36.

Shares of Forterra (FRTA) traded up $0.56 during midday trading on Wednesday, reaching $11.66. The company’s stock had a trading volume of 633,100 shares, compared to its average volume of 821,400. Forterra has a 12-month low of $3.02 and a 12-month high of $22.43. The company has a current ratio of 2.56, a quick ratio of 1.43 and a debt-to-equity ratio of 15.19. The firm has a market cap of $749.48 and a price-to-earnings ratio of -6.90.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital World Investors bought a new stake in shares of Forterra in the 2nd quarter worth approximately $25,249,000. Adams Asset Advisors LLC bought a new stake in shares of Forterra in the 3rd quarter worth approximately $914,000. OxFORD Asset Management LLP bought a new stake in shares of Forterra in the 2nd quarter worth approximately $1,707,000. Goldman Sachs Group Inc. lifted its holdings in shares of Forterra by 88.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 425,456 shares of the construction company’s stock worth $3,502,000 after purchasing an additional 199,520 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Forterra by 11.3% in the 2nd quarter. Vanguard Group Inc. now owns 1,639,962 shares of the construction company’s stock worth $13,497,000 after purchasing an additional 166,558 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

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