Forterra (NASDAQ:FRTA) Now Covered by Berenberg Bank

Berenberg Bank initiated coverage on shares of Forterra (NASDAQ:FRTA) in a report released on Tuesday, MarketBeat.com reports. The brokerage set a “buy” rating and a $16.00 price target on the construction company’s stock. Berenberg Bank’s price objective points to a potential upside of 14.45% from the stock’s previous close.

Several other brokerages have also commented on FRTA. Royal Bank of Canada reissued a “hold” rating and issued a $12.00 price target on shares of Forterra in a report on Wednesday, December 18th. Zacks Investment Research lowered shares of Forterra from a “buy” rating to a “hold” rating in a report on Monday. SunTrust Banks boosted their price target on shares of Forterra from $5.00 to $10.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. ValuEngine lowered shares of Forterra from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. Finally, BidaskClub raised shares of Forterra from a “buy” rating to a “strong-buy” rating in a report on Friday, December 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Forterra has a consensus rating of “Buy” and an average price target of $11.21.

NASDAQ FRTA traded down $0.08 on Tuesday, hitting $13.98. The company had a trading volume of 6,954 shares, compared to its average volume of 308,051. The company has a market capitalization of $910.62 million, a PE ratio of -31.70 and a beta of 2.39. The company’s fifty day moving average price is $11.30 and its 200-day moving average price is $8.34. The company has a debt-to-equity ratio of 11.46, a current ratio of 2.32 and a quick ratio of 1.34. Forterra has a 12-month low of $3.40 and a 12-month high of $14.10.

Forterra (NASDAQ:FRTA) last issued its quarterly earnings results on Monday, November 4th. The construction company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.12 by $0.23. The company had revenue of $464.50 million during the quarter, compared to analyst estimates of $439.68 million. Forterra had a negative net margin of 1.10% and a negative return on equity of 15.65%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.09 EPS. On average, sell-side analysts anticipate that Forterra will post -0.1 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Forterra by 1.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 113,338 shares of the construction company’s stock worth $564,000 after buying an additional 1,544 shares in the last quarter. Parametric Portfolio Associates LLC grew its holdings in shares of Forterra by 29.7% in the second quarter. Parametric Portfolio Associates LLC now owns 16,439 shares of the construction company’s stock valued at $82,000 after purchasing an additional 3,766 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Forterra by 2,552.3% in the third quarter. Tower Research Capital LLC TRC now owns 4,005 shares of the construction company’s stock valued at $29,000 after purchasing an additional 3,854 shares during the period. State Street Corp grew its holdings in shares of Forterra by 2.0% in the third quarter. State Street Corp now owns 312,303 shares of the construction company’s stock valued at $2,258,000 after purchasing an additional 6,224 shares during the period. Finally, Barclays PLC grew its holdings in shares of Forterra by 60.7% in the third quarter. Barclays PLC now owns 19,286 shares of the construction company’s stock valued at $139,000 after purchasing an additional 7,282 shares during the period. 98.27% of the stock is owned by institutional investors and hedge funds.

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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