Forterra Inc (FRTA) Stock Rating Upgraded by Zacks Investment Research

Forterra Inc (FRTA) Stock Rating Upgraded by Zacks Investment Research

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. “

Zacks Investment Research upgraded shares of Forterra Inc (NASDAQ:FRTA) from a sell rating to a hold rating in a research note released on Friday.

Several other equities research analysts have also recently commented on the stock. Seaport Global Securities reissued a buy rating and set a $23.00 price target on shares of Forterra in a research report on Friday, April 28th. Citigroup Inc boosted their price target on shares of Forterra from $22.00 to $23.00 and gave the stock a buy rating in a research report on Monday, April 3rd. Royal Bank of Canada reissued a buy rating and set a $23.00 price target on shares of Forterra in a research report on Friday, March 24th. SunTrust Banks, Inc. cut shares of Forterra from a buy rating to a hold rating and set a $14.00 price target on the stock. in a research report on Tuesday, May 16th. Finally, Barclays PLC reissued an overweight rating and set a $18.00 price target (down from $23.00) on shares of Forterra in a research report on Wednesday, May 17th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $19.22.

Forterra (NASDAQ FRTA) opened at 7.19 on Friday. The stock has a 50 day moving average of $15.74 and a 200-day moving average of $18.45. Forterra has a 1-year low of $7.01 and a 1-year high of $22.76. The firm’s market capitalization is $461.15 million.

Forterra (NASDAQ:FRTA) last posted its quarterly earnings data on Monday, May 15th. The construction company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.07) by $0.24. The company had revenue of $338.30 million for the quarter, compared to analyst estimates of $340.24 million. On average, equities research analysts anticipate that Forterra will post $0.34 earnings per share for the current year.

Several hedge funds have recently modified their holdings of FRTA. Goldman Sachs Group Inc. increased its stake in shares of Forterra by 328.6% in the first quarter. Goldman Sachs Group Inc. now owns 225,936 shares of the construction company’s stock worth $4,406,000 after buying an additional 173,216 shares during the period. Credit Suisse AG increased its stake in shares of Forterra by 19.6% in the first quarter. Credit Suisse AG now owns 378,198 shares of the construction company’s stock worth $7,375,000 after buying an additional 61,871 shares during the period. Sound Point Capital Management LP increased its stake in shares of Forterra by 40.9% in the first quarter. Sound Point Capital Management LP now owns 949,645 shares of the construction company’s stock worth $18,518,000 after buying an additional 275,504 shares during the period. Oppenheimer & Co. Inc. increased its stake in shares of Forterra by 65.4% in the first quarter. Oppenheimer & Co. Inc. now owns 63,279 shares of the construction company’s stock worth $1,234,000 after buying an additional 25,012 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Forterra by 5.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 67,654 shares of the construction company’s stock worth $1,320,000 after buying an additional 3,762 shares during the period. 3.99% of the stock is owned by institutional investors.

Forterra Company Profile

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