BidaskClub Upgrades Forterra (NASDAQ:FRTA) to Sell

Forterra (NASDAQ:FRTA) was upgraded by BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Friday, BidAskClub reports.

Other research analysts have also issued reports about the company. Royal Bank of Canada reaffirmed a “hold” rating and issued a $8.00 target price on shares of Forterra in a research report on Wednesday, March 18th. Zacks Investment Research raised Forterra from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Wednesday, January 15th. Berenberg Bank began coverage on Forterra in a research report on Tuesday, January 14th. They issued a “buy” rating and a $16.00 price objective on the stock. Goldman Sachs Group cut their price objective on Forterra from $14.75 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, March 19th. Finally, ValuEngine raised Forterra from a “strong sell” rating to a “sell” rating in a research report on Friday, March 20th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $10.67.

Shares of FRTA opened at $6.03 on Friday. The company has a current ratio of 2.20, a quick ratio of 1.15 and a debt-to-equity ratio of 11.09. The firm has a market capitalization of $390.40 million, a P/E ratio of -50.25 and a beta of 1.93. The stock’s fifty day simple moving average is $11.13 and its 200 day simple moving average is $10.37. Forterra has a twelve month low of $3.45 and a twelve month high of $19.00.

Forterra (NASDAQ:FRTA) last issued its earnings results on Wednesday, February 26th. The construction company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.01). The firm had revenue of $363.15 million during 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%. Sell-side analysts predict that Forterra will post 0.69 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in FRTA. Geode Capital Management LLC raised its position in Forterra by 131.6% in the fourth quarter. Geode Capital Management LLC now owns 609,910 shares of the construction company’s stock valued at $7,050,000 after purchasing an additional 346,564 shares during the period. Marshall Wace LLP raised its position in Forterra by 263.1% in the fourth quarter. Marshall Wace LLP now owns 277,558 shares of the construction company’s stock valued at $3,209,000 after purchasing an additional 201,118 shares during the period. Assenagon Asset Management S.A. purchased a new position in Forterra in the fourth quarter valued at about $2,216,000. Bank of America Corp DE raised its position in Forterra by 1,614.5% in the fourth quarter. Bank of America Corp DE now owns 188,369 shares of the construction company’s stock valued at $2,177,000 after purchasing an additional 177,382 shares during the period. Finally, Cooper Creek Partners Management LLC purchased a new position in Forterra in the fourth quarter valued at about $1,987,000. 98.54% of the stock is currently owned by institutional investors.

Forterra Company Profile

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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Analyst Recommendations for Forterra (NASDAQ:FRTA)

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