Forterra (NASDAQ:FRTA) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Friday, BidAskClub reports.

Several other brokerages also recently weighed in on FRTA. Zacks Investment Research downgraded shares of Forterra from a “hold” rating to a “sell” rating in a report on Friday, May 17th. Barclays set a $6.00 target price on shares of Forterra and gave the stock a “hold” rating in a report on Wednesday, May 8th. Finally, Citigroup upped their target price on shares of Forterra from $4.50 to $5.50 and gave the stock a “neutral” rating in a report on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $6.85.

Forterra stock traded up $0.07 during mid-day trading on Friday, hitting $5.03. The stock had a trading volume of 60,197 shares, compared to its average volume of 220,435. The company has a market capitalization of $318.92 million, a P/E ratio of -11.43 and a beta of 2.78. The company has a debt-to-equity ratio of 15.85, a quick ratio of 1.14 and a current ratio of 2.57. Forterra has a one year low of $3.25 and a one year high of $10.47.

Forterra (NASDAQ:FRTA) last issued its earnings results 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 company had revenue of $291.90 million during the quarter, compared to the consensus estimate of $275.84 million. Forterra had a negative net margin of 1.99% and a negative return on equity of 26.15%. Forterra’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.31) EPS. Analysts forecast that Forterra will post -0.41 EPS for the current year.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in FRTA. Zacks Investment Management bought a new position in shares of Forterra during the 4th quarter valued at about $42,000. Principal Financial Group Inc. boosted its holdings in shares of Forterra by 22.6% during the 4th quarter. Principal Financial Group Inc. now owns 17,102 shares of the construction company’s stock valued at $64,000 after purchasing an additional 3,152 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Forterra by 22.6% during the 4th quarter. D.A. Davidson & CO. now owns 19,000 shares of the construction company’s stock valued at $71,000 after purchasing an additional 3,500 shares during the last quarter. ELCO Management Co. LLC bought a new position in shares of Forterra during the 1st quarter valued at about $74,000. Finally, MML Investors Services LLC boosted its holdings in shares of Forterra by 16.8% during the 4th quarter. MML Investors Services LLC now owns 22,404 shares of the construction company’s stock valued at $84,000 after purchasing an additional 3,220 shares during the last quarter. 96.88% of the stock is owned by institutional investors and hedge funds.

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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