Forterra Inc (NASDAQ:FRTA) – Equities research analysts at Oppenheimer lowered their FY2018 EPS estimates for Forterra in a research note issued to investors on Tuesday, November 6th. Oppenheimer analyst I. Zaffino now forecasts that the construction company will post earnings per share of ($0.42) for the year, down from their previous forecast of ($0.36). Oppenheimer has a “Buy” rating and a $13.00 price objective on the stock. Oppenheimer also issued estimates for Forterra’s Q4 2018 earnings at ($0.24) EPS.
A number of other equities analysts have also weighed in on the stock. Barclays set a $9.00 price target on shares of Forterra and gave the stock a “hold” rating in a research report on Wednesday. Zacks Investment Research downgraded shares of Forterra from a “hold” rating to a “sell” rating in a report on Tuesday. BidaskClub downgraded shares of Forterra from a “sell” rating to a “strong sell” rating in a report on Friday, September 28th. Finally, Citigroup boosted their target price on shares of Forterra from $9.50 to $10.50 and gave the stock a “neutral” rating in a report on Thursday, August 9th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given 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.
FRTA opened at $5.64 on Friday. The company has a market capitalization of $386.25 million, a price-to-earnings ratio of -7.13 and a beta of 2.43. Forterra has a 1-year low of $4.39 and a 1-year high of $12.30. The company has a debt-to-equity ratio of 11.59, a current ratio of 2.15 and a quick ratio of 1.14.
Forterra (NASDAQ:FRTA) last posted its quarterly earnings results on Tuesday, November 6th. The construction company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.02). The firm had revenue of $434.51 million during the quarter, compared to the consensus estimate 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 for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.18) earnings per share.
Several hedge funds have recently added to or reduced their stakes in FRTA. Jane Street Group LLC purchased a new position in shares of Forterra in the first quarter worth $100,000. BlueMountain Capital Management LLC purchased a new position in shares of Forterra in the second quarter worth $102,000. Barclays PLC lifted its holdings in shares of Forterra by 415.1% in the first quarter. Barclays PLC now owns 15,252 shares of the construction company’s stock worth $128,000 after buying an additional 12,291 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Forterra in the third quarter worth $145,000. Finally, Valeo Financial Advisors LLC lifted its holdings in shares of Forterra by 350.0% in the third quarter. Valeo Financial Advisors LLC now owns 45,000 shares of the construction company’s stock worth $203,000 after buying an additional 35,000 shares in the last quarter.
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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