ValuEngine Downgrades Forterra (NASDAQ:FRTA) to Hold

ValuEngine lowered shares of Forterra (NASDAQ:FRTA) from a buy rating to a hold rating in a report published on Thursday morning, ValuEngine reports.

A number of other research analysts have also recently commented on FRTA. Goldman Sachs Group upgraded shares of Forterra from a sell rating to a buy rating and upped their price target for the stock from $4.25 to $8.00 in a report on Wednesday, August 7th. Zacks Investment Research cut shares of Forterra from a buy rating to a hold rating in a report on Wednesday, July 10th. Finally, BidaskClub cut shares of Forterra from a buy rating to a hold rating in a report on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $7.17.

Shares of NASDAQ FRTA traded up $0.18 during mid-day trading on Thursday, reaching $7.77. The company had a trading volume of 268,213 shares, compared to its average volume of 205,967. The business’s 50-day moving average is $6.84 and its 200-day moving average is $5.72. The company has a current ratio of 2.47, a quick ratio of 1.26 and a debt-to-equity ratio of 14.94. The stock has a market cap of $499.60 million, a price-to-earnings ratio of -17.66 and a beta of 2.23. Forterra has a 52 week low of $3.25 and a 52 week high of $7.97.

Forterra (NASDAQ:FRTA) last posted its quarterly earnings results on Monday, August 5th. The construction company reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.02. The firm had revenue of $410.20 million for the quarter, compared to analysts’ expectations of $422.54 million. Forterra had a negative net margin of 2.27% and a negative return on equity of 31.23%. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.11 earnings per share. As a group, equities research analysts forecast that Forterra will post -0.42 earnings per share for the current year.

In other Forterra news, CEO Karl Watson bought 10,000 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were bought at an average cost of $5.94 per share, for a total transaction of $59,400.00. Following the acquisition, the chief executive officer now directly owns 208,800 shares in the company, valued at $1,240,272. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Vikrant Bhatia bought 17,175 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were acquired at an average price of $6.56 per share, for a total transaction of $112,668.00. Following the completion of the acquisition, the insider now owns 62,467 shares in the company, valued at $409,783.52. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 110,840 shares of company stock worth $745,778. 1.80% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of the business. Brigade Capital Management LP lifted its position in shares of Forterra by 24.3% during the second quarter. Brigade Capital Management LP now owns 2,743,000 shares of the construction company’s stock valued at $13,633,000 after buying an additional 537,000 shares during the last quarter. Water Asset Management LLC lifted its position in shares of Forterra by 196.2% during the second quarter. Water Asset Management LLC now owns 468,121 shares of the construction company’s stock valued at $2,327,000 after buying an additional 310,089 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Forterra by 19.2% during the second quarter. Vanguard Group Inc. now owns 993,321 shares of the construction company’s stock valued at $4,937,000 after buying an additional 159,888 shares during the last quarter. Paradigm Capital Management Inc. NY lifted its position in shares of Forterra by 99.0% during the second quarter. Paradigm Capital Management Inc. NY now owns 201,000 shares of the construction company’s stock valued at $999,000 after buying an additional 100,000 shares during the last quarter. Finally, Citadel Advisors LLC lifted its position in shares of Forterra by 206.2% during the second quarter. Citadel Advisors LLC now owns 107,027 shares of the construction company’s stock valued at $532,000 after buying an additional 72,071 shares during the last quarter. Institutional investors own 96.06% of the company’s stock.

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.

Featured Article: Commodities

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Forterra (NASDAQ:FRTA)

Receive News & Ratings for Forterra Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forterra and related companies with MarketBeat.com's FREE daily email newsletter.