Zacks Investment Research downgraded shares of Forterra (NASDAQ:FRTA) from a buy rating to a hold rating in a report published on Wednesday, 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. “

Several other analysts also recently weighed in on the stock. BidaskClub upgraded shares of Zynerba Pharmaceuticals from a hold rating to a buy rating in a research report on Thursday, July 4th. Barclays restated a sell rating and set a $17.00 price objective on shares of Infineon Technologies in a research report on Wednesday, May 8th. Finally, Citigroup boosted their price objective on shares of Mongodb from $94.00 to $116.00 and gave the stock a neutral rating in a research report on Thursday, March 14th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $7.00.

Shares of NASDAQ:FRTA opened at $5.49 on Wednesday. The stock has a market cap of $348.50 million, a P/E ratio of -12.48 and a beta of 2.17. The company has a quick ratio of 1.14, a current ratio of 2.57 and a debt-to-equity ratio of 15.85. Forterra has a twelve month low of $3.25 and a twelve month high of $10.06. The business’s 50 day moving average is $4.94.

Forterra (NASDAQ:FRTA) last issued its quarterly earnings data 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 business 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%. The company’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.31) EPS. As a group, equities research analysts expect that Forterra will post -0.4 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its position in Forterra by 22.6% in 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. MML Investors Services LLC raised its position in Forterra by 16.8% in 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. Mirae Asset Global Investments Co. Ltd. raised its position in Forterra by 19.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 46,846 shares of the construction company’s stock valued at $176,000 after purchasing an additional 7,488 shares during the last quarter. Rhumbline Advisers raised its position in Forterra by 45.7% in the 4th quarter. Rhumbline Advisers now owns 24,417 shares of the construction company’s stock valued at $92,000 after purchasing an additional 7,660 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Forterra by 5.1% in the 4th quarter. Geode Capital Management LLC now owns 190,968 shares of the construction company’s stock valued at $718,000 after purchasing an additional 9,319 shares during the last quarter. Hedge funds and other institutional investors own 97.19% 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.

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