Forterra Inc (NASDAQ:FRTA) has received an average rating of “Hold” from the nine brokerages that are presently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $7.38.
A number of equities analysts have commented on the company. BidaskClub raised Forterra from a “sell” rating to a “hold” rating in a research note on Tuesday, February 26th. Barclays set a $6.00 price objective on Forterra and gave the stock a “hold” rating in a research note on Wednesday, May 8th. Zacks Investment Research raised Forterra from a “hold” rating to a “buy” rating and set a $5.25 price objective on the stock in a research note on Friday, January 25th. BNP Paribas raised Forterra from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 23rd. Finally, Citigroup boosted their price objective on Forterra from $4.50 to $5.50 and gave the stock a “neutral” rating in a research note on Thursday, March 14th.
In related news, CFO Charles Rodney Brown bought 36,745 shares of the business’s stock in a transaction on Friday, March 15th. The shares were purchased at an average price of $4.16 per share, with a total value of $152,859.20. Following the completion of the purchase, the chief financial officer now owns 57,762 shares of the company’s stock, valued at approximately $240,289.92. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Lori M. Browne bought 6,118 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was bought at an average cost of $4.38 per share, for a total transaction of $26,796.84. Following the purchase, the vice president now directly owns 41,486 shares of the company’s stock, valued at approximately $181,708.68. The disclosure for this purchase can be found here. Insiders have bought 82,863 shares of company stock worth $331,656 in the last ninety days. 0.84% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Intrinsic Edge Capital Management LLC acquired a new position in Forterra in the fourth quarter valued at about $1,446,000. Royce & Associates LP lifted its stake in Forterra by 15.5% in the fourth quarter. Royce & Associates LP now owns 2,202,367 shares of the construction company’s stock valued at $8,281,000 after buying an additional 294,992 shares during the period. Valeo Financial Advisors LLC increased its holdings in shares of Forterra by 44.5% in the fourth quarter. Valeo Financial Advisors LLC now owns 65,021 shares of the construction company’s stock worth $244,000 after acquiring an additional 20,021 shares in the last quarter. First Mercantile Trust Co. increased its holdings in shares of Forterra by 19.4% in the fourth quarter. First Mercantile Trust Co. now owns 38,849 shares of the construction company’s stock worth $146,000 after acquiring an additional 6,318 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Forterra by 1.8% in the third quarter. Vanguard Group Inc. now owns 1,331,578 shares of the construction company’s stock worth $9,933,000 after acquiring an additional 24,174 shares in the last quarter. 98.06% of the stock is currently owned by hedge funds and other institutional investors.
Shares of FRTA traded up $0.23 on Friday, reaching $5.83. 1,401 shares of the stock traded hands, compared to its average volume of 177,520. The stock has a market cap of $361.36 million, a PE ratio of -13.06 and a beta of 2.78. The company has a current ratio of 2.57, a quick ratio of 1.14 and a debt-to-equity ratio of 15.85. Forterra has a 12 month low of $3.25 and a 12 month high of $10.47.
Forterra (NASDAQ:FRTA) last released its quarterly earnings data on Monday, May 6th. The construction company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.15. Forterra had a negative return on equity of 26.15% and a negative net margin of 1.99%. The business had revenue of $291.90 million for the quarter, compared to analysts’ expectations of $275.84 million. During the same period in the previous year, the business posted ($0.31) earnings per share. Forterra’s quarterly revenue was up .7% on a year-over-year basis. Equities analysts forecast that Forterra will post -0.41 earnings per share for the current fiscal year.
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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