Forterra Inc (NASDAQ:FRTA) Receives $7.50 Average PT from Analysts

Shares of Forterra Inc (NASDAQ:FRTA) have been assigned an average rating of “Buy” from the ten brokerages that are presently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $7.50.

A number of research analysts have issued reports on the company. Zacks Investment Research cut Forterra from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. ValuEngine raised Forterra from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Barclays set a $6.00 price objective on Forterra and gave the company a “hold” rating in a report on Wednesday, May 8th. Goldman Sachs Group raised Forterra from a “sell” rating to a “buy” rating and lifted their price objective for the company from $4.25 to $8.00 in a report on Wednesday, August 7th. Finally, BidaskClub cut Forterra from a “strong-buy” rating to a “buy” rating in a report on Thursday.

In other Forterra news, insider Vikrant Bhatia purchased 17,175 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was acquired at an average cost of $6.56 per share, with a total value of $112,668.00. Following the completion of the acquisition, the insider now directly owns 62,467 shares of the company’s stock, valued at approximately $409,783.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Karl Watson purchased 65,200 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average cost of $6.94 per share, with a total value of $452,488.00. Following the completion of the acquisition, the chief executive officer now directly owns 65,200 shares of the company’s stock, valued at $452,488. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 92,375 shares of company stock valued at $633,556. Company insiders own 0.84% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its holdings in shares of Forterra by 1.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 113,338 shares of the construction company’s stock valued at $564,000 after buying an additional 1,544 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Forterra by 22.6% in the fourth quarter. Principal Financial Group Inc. now owns 17,102 shares of the construction company’s stock valued at $64,000 after buying an additional 3,152 shares during the last quarter. Parametric Portfolio Associates LLC raised its holdings in shares of Forterra by 29.7% in the second quarter. Parametric Portfolio Associates LLC now owns 16,439 shares of the construction company’s stock valued at $82,000 after buying an additional 3,766 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Forterra by 4.0% in the second quarter. Northern Trust Corp now owns 219,132 shares of the construction company’s stock valued at $1,089,000 after buying an additional 8,466 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Forterra by 5.1% in the fourth quarter. Geode Capital Management LLC now owns 190,968 shares of the construction company’s stock valued at $718,000 after buying an additional 9,319 shares during the last quarter. 96.76% of the stock is owned by institutional investors and hedge funds.

FRTA stock traded down $0.51 during midday trading on Friday, hitting $6.18. The stock had a trading volume of 183,336 shares, compared to its average volume of 245,206. The firm has a market capitalization of $430.16 million, a price-to-earnings ratio of -14.05 and a beta of 2.18. Forterra has a 52 week low of $3.25 and a 52 week high of $9.32. The stock has a 50-day simple moving average of $6.29 and a 200 day simple moving average of $5.23. The company has a current ratio of 2.47, a quick ratio of 1.26 and a debt-to-equity ratio of 14.94.

Forterra (NASDAQ:FRTA) last issued its earnings results on Monday, August 5th. The construction company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.03 by $0.02. The firm had revenue of $410.20 million during the quarter, compared to analysts’ expectations of $422.54 million. Forterra had a negative return on equity of 31.23% and a negative net margin of 2.27%. Forterra’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period last year, the business earned $0.11 earnings per share.

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.

Further Reading: Why do analysts give a neutral rating?

Analyst Recommendations for Forterra (NASDAQ:FRTA)

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