Forterra Inc (NASDAQ:FRTA) Rating Lowered to Hold at ValuEngine

Forterra Inc (NASDAQ:FRTA) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Several other equities analysts have also recently issued reports on FRTA. Zacks Investment Research upgraded Forterra from a “sell” rating to a “hold” rating in a research note on Thursday. Royal Bank Of Canada decreased their price objective on Forterra from $16.00 to $10.00 and set a “sector perform” rating for the company in a research note on Tuesday, June 27th. Citigroup Inc. decreased their price objective on Forterra from $17.00 to $8.50 and set a “neutral” rating for the company in a research note on Thursday, June 22nd. Barclays PLC reiterated an “overweight” rating and issued a $18.00 price objective (down previously from $23.00) on shares of Forterra in a research note on Wednesday, May 17th. Finally, SunTrust Banks, Inc. cut Forterra from a “buy” rating to a “hold” rating and set a $14.00 price objective for the company. in a research note on Tuesday, May 16th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Forterra presently has an average rating of “Hold” and a consensus price target of $17.61.

Forterra (NASDAQ:FRTA) traded up 3.80% during mid-day trading on Thursday, hitting $9.02. 543,876 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $7.67 and its 200-day moving average price is $15.39. The stock’s market cap is $578.52 million. Forterra has a one year low of $6.01 and a one year high of $22.76.

Forterra (NASDAQ:FRTA) last released its earnings results on Monday, May 15th. The construction company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.07) by $0.24. The business had revenue of $338.30 million during the quarter, compared to the consensus estimate of $340.24 million. On average, analysts forecast that Forterra will post $0.31 EPS for the current fiscal year.

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Several institutional investors have recently made changes to their positions in FRTA. State Street Corp bought a new position in shares of Forterra during the fourth quarter valued at about $4,959,000. Metropolitan Life Insurance Co. NY bought a new position in shares of Forterra during the fourth quarter valued at about $410,000. Ladenburg Thalmann Financial Services Inc. bought a new position in shares of Forterra during the fourth quarter valued at about $109,000. Teachers Advisors LLC bought a new position in shares of Forterra during the fourth quarter valued at about $656,000. Finally, Macquarie Group Ltd. bought a new position in shares of Forterra during the fourth quarter valued at about $1,892,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

About Forterra

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

Analyst Recommendations for Forterra (NASDAQ:FRTA)

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