BidaskClub Upgrades Forterra (NASDAQ:FRTA) to Sell

Forterra (NASDAQ:FRTA) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Friday, BidAskClub reports.

A number of other equities analysts also recently issued reports on the company. ValuEngine raised Forterra from a “strong sell” rating to a “sell” rating in a research note on Friday, March 20th. Berenberg Bank began coverage on Forterra in a research note on Tuesday, January 14th. They set a “buy” rating and a $16.00 target price for the company. Royal Bank of Canada reissued a “hold” rating and set a $8.00 target price on shares of Forterra in a research note on Wednesday, March 18th. Zacks Investment Research upgraded Forterra from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Wednesday, January 15th. Finally, Goldman Sachs Group lowered their price target on Forterra from $14.75 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, March 19th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $10.67.

Shares of FRTA stock opened at $6.03 on Friday. The company has a market cap of $390.40 million, a price-to-earnings ratio of -50.25 and a beta of 1.93. The stock has a 50 day simple moving average of $11.13 and a 200-day simple moving average of $10.37. Forterra has a 12-month low of $3.45 and a 12-month high of $19.00. The company has a current ratio of 2.20, a quick ratio of 1.15 and a debt-to-equity ratio of 11.09.

Forterra (NASDAQ:FRTA) last issued its earnings results on Wednesday, February 26th. The construction company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01). The business had revenue of $363.15 million for the quarter, compared to analysts’ expectations of $341.00 million. Forterra had a negative return on equity of 6.08% and a negative net margin of 0.48%. On average, equities analysts forecast that Forterra will post 0.69 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FRTA. Geode Capital Management LLC grew its holdings in shares of Forterra by 131.6% in the 4th quarter. Geode Capital Management LLC now owns 609,910 shares of the construction company’s stock worth $7,050,000 after acquiring an additional 346,564 shares during the period. Marshall Wace LLP grew its holdings in shares of Forterra by 263.1% in the 4th quarter. Marshall Wace LLP now owns 277,558 shares of the construction company’s stock worth $3,209,000 after acquiring an additional 201,118 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Forterra in the 4th quarter worth approximately $2,216,000. Bank of America Corp DE grew its holdings in shares of Forterra by 1,614.5% in the 4th quarter. Bank of America Corp DE now owns 188,369 shares of the construction company’s stock worth $2,177,000 after acquiring an additional 177,382 shares during the period. Finally, Cooper Creek Partners Management LLC acquired a new stake in shares of Forterra in the 4th quarter worth approximately $1,987,000. Institutional investors and hedge funds own 98.54% of the company’s stock.

About Forterra

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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