Wall Street brokerages expect Forterra Inc (NASDAQ:FRTA) to announce sales of $316.08 million for the current quarter, according to Zacks. Two analysts have made estimates for Forterra’s earnings. The highest sales estimate is $322.36 million and the lowest is $309.80 million. The business is scheduled to announce its next quarterly earnings results before the market opens on Wednesday, February 14th.
On average, analysts expect that Forterra will report full year sales of $316.08 million for the current fiscal year, with estimates ranging from $1.53 billion to $1.54 billion. For the next financial year, analysts expect that the firm will post sales of $1.58 billion per share, with estimates ranging from $1.57 billion to $1.59 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Forterra.
A number of analysts have recently issued reports on the stock. BidaskClub raised shares of Forterra from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 3rd. Zacks Investment Research lowered shares of Forterra from a “buy” rating to a “hold” rating in a research note on Monday, January 1st. Barclays set a $8.00 target price on shares of Forterra and gave the company a “hold” rating in a research note on Monday, January 8th. Goldman Sachs Group lowered shares of Forterra from a “neutral” rating to a “sell” rating and set a $21.00 target price for the company. in a research note on Tuesday, January 30th. Finally, Royal Bank of Canada reissued a “hold” rating and set a $9.00 target price on shares of Forterra in a research note on Wednesday, November 15th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $12.69.
Forterra (FRTA) traded down $0.31 during midday trading on Friday, reaching $7.65. 305,393 shares of the company’s stock traded hands, compared to its average volume of 705,320. Forterra has a 52 week low of $3.02 and a 52 week high of $20.60. The company has a quick ratio of 1.43, a current ratio of 2.56 and a debt-to-equity ratio of 15.19.
Several hedge funds have recently added to or reduced their stakes in the stock. Fore Capital LLC bought a new stake in shares of Forterra in the fourth quarter valued at about $278,000. Electron Capital Partners LLC raised its holdings in shares of Forterra by 97.1% in the fourth quarter. Electron Capital Partners LLC now owns 1,083,005 shares of the construction company’s stock valued at $12,021,000 after acquiring an additional 533,623 shares in the last quarter. Two Sigma Investments LP bought a new stake in shares of Forterra in the fourth quarter valued at about $139,000. Ellington Management Group LLC bought a new stake in shares of Forterra in the fourth quarter valued at about $161,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Forterra in the fourth quarter valued at about $944,000.
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Forterra, Inc is a manufacturer of pipe and precast products. The Company offers products for a range of water-related infrastructure applications, including water transmission, distribution and drainage. The Company operates approximately 95 facilities. Its products are available in the United States and Eastern Canada.
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