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.
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?
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