Forterra (FRTA) Given New $9.00 Price Target at Barclays
Forterra (NASDAQ:FRTA) had its target price hoisted by Barclays from $8.00 to $9.00 in a research report report published on Monday. They currently have an equal weight rating on the construction company’s stock.
A number of other equities analysts have also weighed in on the company. Zacks Investment Research lowered Forterra from a buy rating to a hold rating in a research report on Thursday, May 10th. Oppenheimer set a $13.00 price target on Forterra and gave the company a buy rating in a research report on Tuesday, May 8th. ValuEngine upgraded Forterra from a sell rating to a hold rating in a research report on Wednesday, May 23rd. Finally, BidaskClub upgraded Forterra from a hold rating to a buy rating in a research report on Friday, June 15th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $10.47.
NASDAQ:FRTA opened at $9.08 on Monday. The stock has a market cap of $610.03 million, a P/E ratio of -11.49 and a beta of 0.64. Forterra has a 52-week low of $3.02 and a 52-week high of $12.30. The company has a current ratio of 2.15, a quick ratio of 1.14 and a debt-to-equity ratio of 11.59.
Several hedge funds have recently modified their holdings of FRTA. Two Sigma Investments LP bought a new position in Forterra in the 4th quarter worth approximately $139,000. Global X Management Co. LLC acquired a new stake in Forterra in the 1st quarter valued at $263,000. Trexquant Investment LP acquired a new stake in Forterra in the 1st quarter valued at $133,000. First Mercantile Trust Co. boosted its stake in Forterra by 93.5% in the 1st quarter. First Mercantile Trust Co. now owns 37,803 shares of the construction company’s stock valued at $315,000 after buying an additional 18,265 shares in the last quarter. Finally, Dimensional Fund Advisors LP acquired a new stake in Forterra in the 1st quarter valued at $538,000.
Forterra Company Profile
Forterra, Inc manufactures and sells water and drainage pipe and products in the United States and Eastern Canada. It also manufactures structural and specialty precast products, and precast concrete bridge girders; and pressure, prestressed concrete, and bar-wrapped concrete pipes. The company serves water-related infrastructure applications, including water transmission, distribution, and drainage; and contractors, distributors, municipalities, and utilities waterworks.
See Also: Earnings Per Share (EPS)
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