Forterra Inc (FRTA) Receives Average Recommendation of “Hold” from Brokerages
Shares of Forterra Inc (NASDAQ:FRTA) have earned a consensus recommendation of “Hold” from the ten analysts that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $13.29.
A number of analysts have recently weighed in on FRTA shares. BidaskClub cut shares of Forterra from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 13th. Citigroup boosted their price objective on shares of Forterra from $4.00 to $9.00 and gave the stock a “buy” rating in a research note on Friday, November 10th. Zacks Investment Research upgraded shares of Forterra from a “hold” rating to a “buy” rating and set a $8.50 price objective for the company in a research note on Thursday, November 9th. Barclays boosted their price objective on shares of Forterra from $4.00 to $7.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 14th. Finally, Stephens restated an “equal weight” rating and issued a $9.00 price objective (up from $4.00) on shares of Forterra in a research note on Wednesday, November 15th.
A number of institutional investors have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership bought a new stake in Forterra in the 4th quarter valued at $944,000. Virtu Financial LLC bought a new stake in Forterra in the 4th quarter valued at $879,000. Royce & Associates LP increased its holdings in Forterra by 227.9% in the 4th quarter. Royce & Associates LP now owns 1,239,700 shares of the construction company’s stock valued at $13,761,000 after buying an additional 861,650 shares during the period. Brightline Capital Management LLC bought a new stake in Forterra in the 4th quarter valued at $2,331,000. Finally, The Manufacturers Life Insurance Company increased its holdings in Forterra by 672.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 16,393 shares of the construction company’s stock valued at $182,000 after buying an additional 14,272 shares during the period.
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Forterra Company Profile
Forterra, Inc is a manufacturer of pipe and precast products. The Company offers products for a range of water-related infrastructure applications, including water transmission, distribution and drainage. The Company operates approximately 95 facilities. Its products are available in the United States and Eastern Canada.
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