Forterra Inc (FRTA) Receives $7.38 Consensus PT from Brokerages

Forterra Inc (NASDAQ:FRTA) has earned an average rating of “Hold” from the nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $7.38.

Several analysts have recently commented on FRTA shares. BidaskClub raised Forterra from a “sell” rating to a “hold” rating in a research report on Tuesday, February 26th. Zacks Investment Research raised Forterra from a “hold” rating to a “buy” rating and set a $5.25 target price for the company in a research report on Friday, January 25th. BNP Paribas raised Forterra from a “neutral” rating to an “outperform” rating in a research report on Wednesday, January 23rd. Citigroup raised their target price on Forterra from $4.50 to $5.50 and gave the stock a “neutral” rating in a research report on Thursday, March 14th. Finally, Exane BNP Paribas raised Forterra from a “neutral” rating to an “outperform” rating in a research report on Wednesday, January 23rd.

In other news, CEO Jeff Bradley acquired 40,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was acquired at an average cost of $3.80 per share, for a total transaction of $152,000.00. Following the completion of the acquisition, the chief executive officer now owns 195,184 shares in the company, valued at $741,699.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Charles Rodney Brown acquired 36,745 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were purchased at an average price of $4.16 per share, with a total value of $152,859.20. Following the completion of the acquisition, the chief financial officer now owns 57,762 shares of the company’s stock, valued at approximately $240,289.92. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 82,863 shares of company stock valued at $331,656. 0.84% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in FRTA. Intrinsic Edge Capital Management LLC purchased a new stake in shares of Forterra during the fourth quarter worth $1,446,000. Royce & Associates LP raised its holdings in shares of 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 in the last quarter. Bank of America Corp DE raised its holdings in shares of Forterra by 1,606.2% during the fourth quarter. Bank of America Corp DE now owns 148,879 shares of the construction company’s stock worth $559,000 after acquiring an additional 140,153 shares in the last quarter. Morgan Stanley raised its holdings in shares of Forterra by 318.9% during the first quarter. Morgan Stanley now owns 123,937 shares of the construction company’s stock worth $522,000 after acquiring an additional 94,351 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY raised its holdings in shares of Forterra by 225.8% during the first quarter. Paradigm Capital Management Inc. NY now owns 101,000 shares of the construction company’s stock worth $426,000 after acquiring an additional 70,000 shares in the last quarter. Institutional investors and hedge funds own 98.06% of the company’s stock.

Shares of FRTA traded up $0.05 during trading hours on Friday, hitting $5.98. 180,834 shares of the company were exchanged, compared to its average volume of 226,151. The firm has a market cap of $377.43 million, a PE ratio of -13.59 and a beta of 2.78. The company has a quick ratio of 1.14, a current ratio of 2.57 and a debt-to-equity ratio of 15.85. Forterra has a one year low of $3.25 and a one year high of $10.47.

Forterra (NASDAQ:FRTA) last released its quarterly earnings data on Monday, May 6th. The construction company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.54) by $0.15. The business had revenue of $291.90 million during the quarter, compared to analyst estimates of $275.84 million. Forterra had a negative return on equity of 26.15% and a negative net margin of 1.99%. The company’s revenue was up .7% compared to the same quarter last year. During the same period last year, the company posted ($0.31) EPS. On average, equities research analysts anticipate that Forterra will post -0.41 EPS for the current fiscal year.

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.

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Analyst Recommendations for Forterra (NASDAQ:FRTA)

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