Oppenheimer set a $13.00 price target on Forterra (NASDAQ:FRTA) in a research report sent to investors on Tuesday morning. The brokerage currently has a buy rating on the construction company’s stock. Oppenheimer also issued estimates for Forterra’s Q3 2018 earnings at $0.07 EPS, Q4 2018 earnings at ($0.24) EPS, FY2018 earnings at ($0.42) EPS and FY2019 earnings at $0.04 EPS.
FRTA has been the topic of several other research reports. BidaskClub lowered shares of Forterra from a buy rating to a hold rating in a research report on Tuesday, August 21st. Zacks Investment Research lowered shares of Forterra from a hold rating to a sell rating in a research report on Wednesday, July 11th. Citigroup increased their price target on shares of Forterra from $9.50 to $10.50 and gave the stock a neutral rating in a research report on Thursday, August 9th. Finally, Barclays increased their price target on shares of Forterra from $8.00 to $9.00 and gave the stock an equal weight rating in a research report on Monday, August 13th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $10.47.
Shares of FRTA traded down $0.06 during mid-day trading on Tuesday, hitting $5.57. 12,425 shares of the company’s stock were exchanged, compared to its average volume of 460,648. Forterra has a 52 week low of $4.39 and a 52 week high of $12.30. The stock has a market capitalization of $386.25 million, a PE ratio of -7.03 and a beta of 2.43. The company has a current ratio of 2.15, a quick ratio of 1.14 and a debt-to-equity ratio of 11.59.
Forterra (NASDAQ:FRTA) last posted its quarterly earnings results on Tuesday, November 6th. The construction company reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.02). The firm had revenue of $434.51 million for the quarter, compared to analyst estimates of $449.72 million. Forterra had a negative return on equity of 23.36% and a net margin of 2.38%. The business’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.18) EPS. Equities research analysts predict that Forterra will post -0.39 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC acquired a new stake in Forterra in the third quarter valued at approximately $249,000. Valeo Financial Advisors LLC boosted its position in Forterra by 350.0% in the third quarter. Valeo Financial Advisors LLC now owns 45,000 shares of the construction company’s stock valued at $203,000 after buying an additional 35,000 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in Forterra in the third quarter valued at approximately $145,000. Northern Trust Corp boosted its position in Forterra by 4.2% in the second quarter. Northern Trust Corp now owns 188,157 shares of the construction company’s stock valued at $1,831,000 after buying an additional 7,592 shares in the last quarter. Finally, Intrinsic Edge Capital Management LLC acquired a new stake in Forterra in the second quarter valued at approximately $487,000.
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.
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