Forterra (FRTA) Stock Rating Lowered by Zacks Investment Research

Forterra (NASDAQ:FRTA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

According to Zacks, “Forterra, Inc. is a manufacturer of concrete and clay building products. It operates primarily in the United States, Canada and the United Kingdom. Forterra, Inc. is headquartered in Irving, Texas. “

FRTA has been the topic of several other research reports. BNP Paribas upgraded Forterra from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 23rd. BidaskClub upgraded Forterra from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. Exane BNP Paribas upgraded Forterra from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 23rd. Citigroup raised their price target on Forterra from $4.50 to $5.50 and gave the company a “neutral” rating in a research note on Thursday, March 14th. Finally, Barclays set a $6.00 price target on Forterra and gave the company a “hold” rating in a research note on Wednesday, May 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $6.85.

Shares of Forterra stock traded down $0.38 during trading on Thursday, hitting $4.96. 192,983 shares of the stock traded hands, compared to its average volume of 222,044. The firm has a market cap of $318.92 million, a P/E ratio of -11.27 and a beta of 2.78. 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.

Forterra (NASDAQ:FRTA) last announced its quarterly earnings results on Monday, May 6th. The construction company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.54) by $0.15. The firm had revenue of $291.90 million for 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 business’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.31) earnings per share. Analysts forecast that Forterra will post -0.41 earnings per share for the current year.

In related news, VP Lori M. Browne bought 6,118 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were bought at an average price of $4.38 per share, for a total transaction 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 $181,708.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeff Bradley bought 40,000 shares of the business’s stock in a transaction on Friday, March 15th. The stock was bought at an average price of $3.80 per share, for a total transaction of $152,000.00. Following the purchase, the chief executive officer now directly owns 195,184 shares of the company’s stock, valued at $741,699.20. The disclosure for this purchase can be found here. Insiders acquired 82,863 shares of company stock worth $331,656 in the last quarter. 0.84% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Royce & Associates LP grew its stake in Forterra by 4.1% in the first quarter. Royce & Associates LP now owns 2,293,718 shares of the construction company’s stock valued at $9,679,000 after purchasing an additional 91,351 shares during the last quarter. BlackRock Inc. grew its stake in Forterra by 3.9% in the first quarter. BlackRock Inc. now owns 1,418,746 shares of the construction company’s stock valued at $5,986,000 after purchasing an additional 53,216 shares during the last quarter. Vanguard Group Inc grew its stake in Forterra by 1.8% in the third quarter. Vanguard Group Inc now owns 1,331,578 shares of the construction company’s stock valued at $9,933,000 after purchasing an additional 24,174 shares during the last quarter. Vanguard Group Inc. grew its stake in Forterra by 1.8% in the third quarter. Vanguard Group Inc. now owns 1,331,578 shares of the construction company’s stock valued at $9,933,000 after purchasing an additional 24,174 shares during the last quarter. Finally, Intrinsic Edge Capital Management LLC purchased a new position in Forterra in the fourth quarter valued at about $1,446,000. Institutional investors own 96.88% of the company’s stock.

About Forterra

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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