Forterra (NASDAQ:FRTA) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Forterra (NASDAQ:FRTA) from a buy rating to a hold rating in a report issued on Monday, Zacks.com reports.

According to Zacks, “Forterra, Inc. is a manufacturer of concrete and clay building products. It operates primarily in the United States, Canada and the United Kingdom. Forterra, Inc. is headquartered in Irving, Texas. “

FRTA has been the topic of several other reports. SunTrust Banks increased their target price on shares of Forterra from $5.00 to $10.00 and gave the stock a hold rating in a report on Tuesday, November 5th. BidaskClub upgraded shares of Forterra from a buy rating to a strong-buy rating in a research report on Friday, December 20th. Royal Bank of Canada restated a hold rating and issued a $12.00 price objective on shares of Forterra in a research report on Wednesday, December 18th. Finally, ValuEngine downgraded Forterra from a hold rating to a sell rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Forterra currently has a consensus rating of Buy and an average price target of $11.21.

FRTA traded up $0.19 during midday trading on Monday, reaching $14.07. 76,319 shares of the company were exchanged, compared to its average volume of 308,051. The stock has a market capitalization of $910.62 million, a P/E ratio of -31.98 and a beta of 2.39. Forterra has a one year low of $3.40 and a one year high of $14.10. The stock’s 50-day simple moving average is $11.30 and its 200 day simple moving average is $8.34. 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 (NASDAQ:FRTA) last announced its quarterly earnings results on Monday, November 4th. The construction company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.23. The business had revenue of $464.50 million for the quarter, compared to the consensus estimate of $439.68 million. Forterra had a negative net margin of 1.10% and a negative return on equity of 15.65%. Forterra’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the company posted $0.09 EPS. On average, research analysts anticipate that Forterra will post -0.1 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC boosted 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 buying an additional 3,854 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Forterra in the 3rd quarter valued at about $85,000. Parametric Portfolio Associates LLC raised 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 valued at $82,000 after purchasing an additional 3,766 shares during the period. Barclays PLC lifted 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 in the last quarter. Finally, A.R.T. Advisors LLC bought a new stake in shares of Forterra in the second quarter valued at about $137,000. 98.27% of the stock is currently owned by hedge funds and other 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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