A number of other research firms have also issued reports on FRTA. Zacks Investment Research lowered Forterra from a buy rating to a hold rating in a research note on Thursday, May 10th. BidaskClub upgraded Forterra from a sell rating to a hold rating in a research note on Saturday, March 10th. Oppenheimer set a $13.00 target price on Forterra and gave the stock a buy rating in a research note on Tuesday, May 8th. Finally, ValuEngine upgraded Forterra from a hold rating to a buy rating in a research note on Thursday, June 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $10.19.
NASDAQ:FRTA opened at $9.74 on Monday. The company has a debt-to-equity ratio of 11.17, a quick ratio of 1.24 and a current ratio of 2.42. Forterra has a 52-week low of $3.02 and a 52-week high of $12.30. The firm has a market cap of $635.82 million, a P/E ratio of -12.33 and a beta of 1.05.
Forterra (NASDAQ:FRTA) last released its quarterly earnings data on Tuesday, May 8th. The construction company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.10. Forterra had a negative return on equity of 47.37% and a net margin of 0.04%. The company had revenue of $289.96 million for the quarter, compared to analyst estimates of $310.89 million. During the same period in the previous year, the company posted ($0.35) EPS. The firm’s revenue for the quarter was down 14.3% compared to the same quarter last year. research analysts forecast that Forterra will post -0.19 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in FRTA. Jane Street Group LLC bought a new position in Forterra in the 1st quarter worth about $100,000. Bank of Montreal Can increased its stake in Forterra by 379.5% in the 4th quarter. Bank of Montreal Can now owns 9,590 shares of the construction company’s stock worth $107,000 after acquiring an additional 7,590 shares during the last quarter. Koch Industries Inc. bought a new position in Forterra in the 1st quarter worth about $114,000. Rehmann Capital Advisory Group bought a new position in Forterra in the 4th quarter worth about $124,000. Finally, Barclays PLC increased its stake in Forterra by 415.1% in the 1st quarter. Barclays PLC now owns 15,252 shares of the construction company’s stock worth $128,000 after acquiring an additional 12,291 shares during the last quarter.
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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