A number of other analysts have also recently commented on FRTA. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell initiated coverage on Forterra in a research report on Wednesday, November 25th. They set a â€œbuyâ€ rating and a $22.00 target price on the stock. Credit Suisse Group initiated coverage on Forterra in a research report on Monday, December 21st. They set a â€œneutralâ€ rating and a $22.00 target price on the stock. Zacks Investment Research upgraded Forterra from a â€œsellâ€ rating to a â€œbuyâ€ rating and set a $19.00 target price on the stock in a research report on Monday. Bank of America initiated coverage on Forterra in a research report on Monday, October 19th. They set a â€œbuyâ€ rating and a $19.00 target price on the stock. Finally, Royal Bank of Canada upgraded Forterra from a â€œsector performâ€ rating to an â€œoutperformâ€ rating and lifted their target price for the stock from $15.00 to $17.00 in a research report on Monday, September 21st. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Forterra currently has a consensus rating of â€œBuyâ€ and an average target price of $19.45.
FRTA traded up $0.86 on Thursday, reaching $19.27. The company had a trading volume of 591,240 shares, compared to its average volume of 505,907. The company has a quick ratio of 1.14, a current ratio of 1.92 and a debt-to-equity ratio of 6.42. Forterra has a 1 year low of $3.45 and a 1 year high of $19.65. The stock has a market capitalization of $1.27 billion, a PE ratio of 40.15 and a beta of 2.58. The stock has a 50-day moving average price of $17.70 and a 200-day moving average price of $14.44.
Forterra (NASDAQ:FRTA) last posted its earnings results on Wednesday, October 28th. The construction company reported $0.42 EPS for the quarter, missing the Zacksâ€™ consensus estimate of $0.50 by ($0.08). Forterra had a return on equity of 26.34% and a net margin of 2.17%. The firm had revenue of $457.60 million for the quarter, compared to analyst estimates of $473.57 million. As a group, analysts expect that Forterra will post 0.64 earnings per share for the current fiscal year.
In other Forterra news, major shareholder John P. Grayken sold 200,000 shares of Forterra stock in a transaction that occurred on Tuesday, October 13th. The stock was sold at an average price of $12.83, for a total value of $2,566,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.84% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Commonwealth Equity Services LLC raised its position in shares of Forterra by 1.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 46,882 shares of the construction companyâ€™s stock valued at $523,000 after purchasing an additional 760 shares in the last quarter. California State Teachers Retirement System increased its stake in Forterra by 5.4% during the 3rd quarter. California State Teachers Retirement System now owns 28,470 shares of the construction companyâ€™s stock worth $337,000 after acquiring an additional 1,458 shares during the period. Bank of Montreal Can raised its holdings in Forterra by 69.3% in the 2nd quarter. Bank of Montreal Can now owns 3,710 shares of the construction companyâ€™s stock valued at $42,000 after acquiring an additional 1,519 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of Forterra by 5.0% during the 2nd quarter. California Public Employees Retirement System now owns 43,204 shares of the construction companyâ€™s stock valued at $482,000 after acquiring an additional 2,068 shares during the period. Finally, Great West Life Assurance Co. Can lifted its position in shares of Forterra by 123.2% during the 3rd quarter. Great West Life Assurance Co. Can now owns 4,159 shares of the construction companyâ€™s stock valued at $191,000 after acquiring an additional 2,296 shares during the period. 97.85% of the stock is currently owned by institutional investors.
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. The company 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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