Forterra (NASDAQ:FRTA) Cut to Hold at BidaskClub
Several other analysts also recently weighed in on the stock. Barclays set a $6.00 target price on shares of Forterra and gave the stock a hold rating in a research report on Wednesday, May 8th. Zacks Investment Research raised shares of Forterra from a hold rating to a buy rating and set a $4.75 price objective on the stock in a report on Friday, March 22nd. Finally, Citigroup boosted their target price on shares of Forterra from $4.50 to $5.50 and gave the company a neutral rating in a research note on Thursday, March 14th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Forterra presently has a consensus rating of Hold and a consensus target price of $7.00.
NASDAQ:FRTA opened at $4.13 on Friday. The stock has a market cap of $295.77 million, a P/E ratio of -9.39 and a beta of 2.29. Forterra has a twelve month low of $3.25 and a twelve month high of $10.06. The company has a debt-to-equity ratio of 15.85, a quick ratio of 1.14 and a current ratio of 2.57. The stock’s 50 day moving average is $5.12.
Large investors have recently bought and sold shares of the business. Intrinsic Edge Capital Management LLC acquired a new position in Forterra during the fourth quarter worth $1,446,000. Royce & Associates LP raised its position in Forterra by 15.5% during the fourth quarter. Royce & Associates LP now owns 2,202,367 shares of the construction company’s stock worth $8,281,000 after acquiring an additional 294,992 shares during the period. Vanguard Group Inc. raised its position in Forterra by 1.8% during the third quarter. Vanguard Group Inc. now owns 1,331,578 shares of the construction company’s stock worth $9,933,000 after acquiring an additional 24,174 shares during the period. Alambic Investment Management L.P. acquired a new position in Forterra during the fourth quarter worth $100,000. Finally, Principal Financial Group Inc. raised its position in Forterra by 22.6% during the fourth quarter. Principal Financial Group Inc. now owns 17,102 shares of the construction company’s stock worth $64,000 after acquiring an additional 3,152 shares during the period. Institutional investors own 97.19% of the company’s stock.
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.
Recommended Story: Earnings Reports
Receive News & Ratings for Forterra Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forterra and related companies with MarketBeat.com's FREE daily email newsletter.