Forterra (FRTA) Stock Rating Upgraded by BidaskClub

Forterra (NASDAQ:FRTA) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday, BidAskClub reports.

Several other analysts also recently issued reports on the company. Zacks Investment Research downgraded Forterra from a “hold” rating to a “sell” rating in a research report on Friday. Barclays set a $6.00 price objective on Forterra and gave the company a “hold” rating in a research report on Wednesday, May 8th. Citigroup upped their target price on Forterra from $4.50 to $5.50 and gave the company a “neutral” rating in a research note on Thursday, March 14th. BNP Paribas upgraded Forterra from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 23rd. Finally, Exane BNP Paribas upgraded Forterra from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Forterra has a consensus rating of “Hold” and an average target price of $6.85.

Shares of NASDAQ:FRTA opened at $5.98 on Friday. The company has a current ratio of 2.57, a quick ratio of 1.14 and a debt-to-equity ratio of 15.85. Forterra has a 52-week low of $3.25 and a 52-week high of $10.47. The firm has a market capitalization of $384.51 million, a PE ratio of -13.59 and a beta of 2.78.

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

In other Forterra news, CEO Jeff Bradley bought 40,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was purchased at an average cost of $3.80 per share, for a total transaction of $152,000.00. Following the completion of the purchase, the chief executive officer now owns 195,184 shares of the company’s stock, valued at approximately $741,699.20. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Lori M. Browne bought 6,118 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average price of $4.38 per share, with a total value of $26,796.84. Following the completion of the purchase, the vice president now directly owns 41,486 shares of the company’s stock, valued at approximately $181,708.68. The disclosure for this purchase can be found here. Insiders purchased 82,863 shares of company stock valued at $331,656 over the last quarter. Insiders own 0.84% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in FRTA. Zacks Investment Management acquired a new position in Forterra in the fourth quarter valued at $42,000. Principal Financial Group Inc. increased its stake 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 last quarter. D.A. Davidson & CO. increased its stake in Forterra by 22.6% during the fourth quarter. D.A. Davidson & CO. now owns 19,000 shares of the construction company’s stock worth $71,000 after acquiring an additional 3,500 shares during the last quarter. ELCO Management Co. LLC acquired a new stake in Forterra during the first quarter worth about $74,000. Finally, MML Investors Services LLC increased its stake in Forterra by 16.8% during the fourth quarter. MML Investors Services LLC now owns 22,404 shares of the construction company’s stock worth $84,000 after acquiring an additional 3,220 shares during the last quarter. Hedge funds and other institutional investors own 98.06% 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.

See Also: How to Invest in a Bull Market

Analyst Recommendations for Forterra (NASDAQ:FRTA)

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.