Forterra Inc (FRTA) Receives Consensus Rating of “Hold” from Analysts
Forterra Inc (NASDAQ:FRTA) has been assigned a consensus rating of “Hold” from the eleven brokerages that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $10.81.
FRTA has been the topic of several analyst reports. BidaskClub upgraded Forterra from a “hold” rating to a “buy” rating in a research note on Friday, June 15th. ValuEngine upgraded Forterra from a “hold” rating to a “buy” rating in a research note on Thursday, June 7th. Barclays increased their price objective on Forterra from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Monday, August 13th. Zacks Investment Research upgraded Forterra from a “sell” rating to a “hold” rating in a research note on Monday, August 27th. Finally, Deutsche Bank increased their price objective on Forterra from $7.00 to $8.00 and gave the company a “hold” rating in a research note on Monday, June 25th.
A number of large investors have recently bought and sold shares of FRTA. Taylor Asset Management Inc. grew its holdings in shares of Forterra by 1,418.8% during the first quarter. Taylor Asset Management Inc. now owns 443,176 shares of the construction company’s stock worth $3,253,000 after purchasing an additional 413,997 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Forterra by 19.0% during the second quarter. BlackRock Inc. now owns 1,596,301 shares of the construction company’s stock worth $15,531,000 after purchasing an additional 255,108 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of Forterra during the first quarter worth about $774,000. GSA Capital Partners LLP acquired a new stake in shares of Forterra during the first quarter worth about $760,000. Finally, Manchester Capital Management LLC acquired a new stake in shares of Forterra during the second quarter worth about $796,000.
Forterra (NASDAQ:FRTA) last released its quarterly earnings results on Wednesday, August 8th. The construction company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The company had revenue of $416.10 million for the quarter, compared to analysts’ expectations of $421.81 million. Forterra had a negative return on equity of 37.94% and a net margin of 1.24%. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. analysts anticipate that Forterra will post -0.3 EPS for the current fiscal year.
Forterra Company Profile
Forterra, Inc manufactures and sells water and drainage pipe and products in the United States and Eastern Canada. It also manufactures structural and specialty precast products, and precast concrete bridge girders; and pressure, prestressed concrete, and bar-wrapped concrete pipes. The company serves water-related infrastructure applications, including water transmission, distribution, and drainage; and contractors, distributors, municipalities, and utilities waterworks.
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