Zacks Investment Research Lowers Forterra Inc (FRTA) to Sell

Forterra Inc (NASDAQ:FRTA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.

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. “

Separately, Barclays PLC started coverage on shares of Forterra in a research report on Thursday, January 5th. They issued an “overweight” rating on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $21.71.

Analyst Recommendations for Forterra (NASDAQ:FRTA)

Shares of Forterra (NASDAQ:FRTA) traded down 1.86% during midday trading on Monday, hitting $18.96. 115,800 shares of the stock were exchanged. The firm has a market cap of $1.21 billion and a PE ratio of 98.24. Forterra has a 12-month low of $16.24 and a 12-month high of $22.76. The firm has a 50-day moving average price of $19.24 and a 200 day moving average price of $19.16.

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Several large investors have recently modified their holdings of the company. Hodges Capital Management Inc. bought a new stake in shares of Forterra during the fourth quarter valued at approximately $16,846,000. Putnam Investments LLC bought a new stake in shares of Forterra during the fourth quarter valued at approximately $12,177,000. Sound Point Capital Management LP bought a new stake in shares of Forterra during the fourth quarter valued at approximately $7,709,000. Barometer Capital Management Inc. bought a new stake in shares of Forterra during the fourth quarter valued at approximately $5,016,000. Finally, State Street Corp bought a new stake in shares of Forterra during the fourth quarter valued at approximately $4,959,000. Institutional investors own 3.99% of the company’s stock.

About Forterra

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