Forterra (NASDAQ:FRTA) Downgraded by BidaskClub to Buy

Forterra (NASDAQ:FRTA) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Saturday, BidAskClub reports.

Several other research analysts have also commented on FRTA. ValuEngine lowered shares of Forterra from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. SunTrust Banks lifted their target price on shares of Forterra from $5.00 to $10.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th. Finally, Zacks Investment Research raised shares of Forterra from a “hold” rating to a “buy” rating and set a $9.50 target price on the stock in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $7.80.

FRTA opened at $10.54 on Friday. The company has a debt-to-equity ratio of 11.46, a quick ratio of 1.34 and a current ratio of 2.32. Forterra has a 52-week low of $3.25 and a 52-week high of $11.75. The stock has a market capitalization of $695.01 million, a PE ratio of -23.95 and a beta of 2.39. The stock’s 50 day moving average price is $9.99 and its 200-day moving average price is $7.04.

Forterra (NASDAQ:FRTA) last announced its earnings results on Monday, November 4th. The construction company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.23. The company had revenue of $464.50 million during the quarter, compared to the consensus estimate of $439.68 million. Forterra had a negative return on equity of 15.65% and a negative net margin of 1.10%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.09 earnings per share. Research analysts forecast that Forterra will post -0.1 EPS for the current fiscal year.

In other news, CEO Karl Watson bought 8,465 shares of the stock in a transaction dated Monday, September 9th. The stock was bought at an average price of $6.24 per share, for a total transaction of $52,821.60. Following the purchase, the chief executive officer now directly owns 237,265 shares in the company, valued at approximately $1,480,533.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.80% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its holdings in Forterra by 1.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 113,338 shares of the construction company’s stock worth $564,000 after purchasing an additional 1,544 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of Forterra by 29.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 16,439 shares of the construction company’s stock worth $82,000 after acquiring an additional 3,766 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Forterra by 2,552.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 4,005 shares of the construction company’s stock worth $29,000 after acquiring an additional 3,854 shares in the last quarter. State Street Corp lifted its position in Forterra by 2.0% during the 3rd quarter. State Street Corp now owns 312,303 shares of the construction company’s stock valued at $2,258,000 after acquiring an additional 6,224 shares during the period. Finally, Barclays PLC lifted its position in Forterra by 60.7% during the 3rd quarter. Barclays PLC now owns 19,286 shares of the construction company’s stock valued at $139,000 after acquiring an additional 7,282 shares during the period. 98.51% 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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