Forterra (NASDAQ:FRTA) Raised to Buy at ValuEngine

ValuEngine upgraded shares of Forterra (NASDAQ:FRTA) from a hold rating to a buy rating in a research report report published on Thursday, ValuEngine reports.

Several other equities analysts have also commented on the stock. Barclays set a $6.00 price objective on shares of Forterra and gave the stock a hold rating in a report on Wednesday, May 8th. Zacks Investment Research lowered shares of Forterra from a buy rating to a hold rating in a report on Wednesday, July 10th. Finally, BidaskClub upgraded shares of Forterra from a buy rating to a strong-buy rating in a report on Tuesday, July 23rd. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $7.00.

NASDAQ:FRTA traded down $0.11 on Thursday, hitting $6.45. The stock had a trading volume of 118,322 shares, compared to its average volume of 189,277. 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 firm has a market capitalization of $421.80 million, a PE ratio of -14.66 and a beta of 2.17. The stock has a fifty day moving average price of $5.54. Forterra has a 1-year low of $3.25 and a 1-year high of $10.06.

Forterra (NASDAQ:FRTA) last posted its earnings results on Monday, May 6th. The construction company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.54) by $0.15. Forterra had a negative net margin of 1.99% and a negative return on equity of 26.15%. The company had revenue of $291.90 million for the quarter, compared to analyst estimates of $275.84 million. During the same period in the previous year, the business posted ($0.31) EPS. Forterra’s revenue was up .7% on a year-over-year basis. Analysts forecast that Forterra will post -0.37 EPS for the current year.

Several hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. lifted its holdings in shares of Forterra by 22.6% in the 4th 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. MML Investors Services LLC lifted its holdings in shares of Forterra by 16.8% in the 4th 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. Geode Capital Management LLC lifted its holdings in shares of Forterra by 5.1% in the 4th quarter. Geode Capital Management LLC now owns 190,968 shares of the construction company’s stock worth $718,000 after acquiring an additional 9,319 shares during the last quarter. ELCO Management Co. LLC acquired a new position in shares of Forterra in the 1st quarter worth approximately $74,000. Finally, Spark Investment Management LLC lifted its holdings in Forterra by 41.1% during the 1st quarter. Spark Investment Management LLC now owns 113,700 shares of the construction company’s stock worth $479,000 after buying an additional 33,100 shares in the last quarter. Hedge funds and other institutional investors own 97.15% 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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Analyst Recommendations for Forterra (NASDAQ:FRTA)

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