Forterra (FRTA) Upgraded by BidaskClub to “Hold”
BidaskClub upgraded shares of Forterra (NASDAQ:FRTA) from a sell rating to a hold rating in a report released on Saturday.
Several other research analysts also recently issued reports on the stock. Goldman Sachs Group downgraded shares of Forterra from a neutral rating to a sell rating and set a $21.00 price objective on the stock. in a research report on Tuesday, January 30th. Zacks Investment Research downgraded shares of Forterra from a buy rating to a hold rating in a research report on Monday, January 1st. Royal Bank of Canada reissued a hold rating and set a $9.00 price objective on shares of Forterra in a research report on Wednesday, November 15th. Stephens reissued an equal weight rating and set a $9.00 price objective (up from $4.00) on shares of Forterra in a research report on Wednesday, November 15th. Finally, Barclays set a $8.00 price objective on shares of Forterra and gave the stock a hold rating in a research report on Monday, January 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. Forterra currently has a consensus rating of Hold and an average price target of $11.81.
Shares of Forterra (NASDAQ FRTA) traded up $0.35 during trading on Friday, reaching $8.75. 745,898 shares of the company’s stock traded hands, compared to its average volume of 405,847. Forterra has a 52 week low of $3.02 and a 52 week high of $20.47. The company has a current ratio of 2.39, a quick ratio of 1.43 and a debt-to-equity ratio of 9.54.
Several large investors have recently modified their holdings of FRTA. Frontier Capital Management Co. LLC boosted its holdings in shares of Forterra by 53.1% in the fourth quarter. Frontier Capital Management Co. LLC now owns 3,337,684 shares of the construction company’s stock valued at $37,048,000 after acquiring an additional 1,157,027 shares in the last quarter. First Trust Advisors LP purchased a new stake in shares of Forterra in the third quarter valued at about $4,129,000. Royce & Associates LP boosted its holdings in shares of Forterra by 227.9% in the fourth quarter. Royce & Associates LP now owns 1,239,700 shares of the construction company’s stock valued at $13,761,000 after acquiring an additional 861,650 shares in the last quarter. SG Capital Management LLC purchased a new stake in shares of Forterra in the third quarter valued at about $2,664,000. Finally, Electron Capital Partners LLC boosted its holdings in shares of Forterra by 97.1% in the fourth quarter. Electron Capital Partners LLC now owns 1,083,005 shares of the construction company’s stock valued at $12,021,000 after acquiring an additional 533,623 shares in the last quarter.
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Forterra, Inc is a manufacturer of pipe and precast products. The Company offers products for a range of water-related infrastructure applications, including water transmission, distribution and drainage. The Company operates approximately 95 facilities. Its products are available in the United States and Eastern Canada.
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