Forterra (FRTA) Downgraded to Buy at BidaskClub

BidaskClub lowered shares of Forterra (NASDAQ:FRTA) from a strong-buy rating to a buy rating in a research report report published on Saturday morning.

Several other research analysts have also recently weighed in on FRTA. Zacks Investment Research upgraded Forterra from a sell rating to a hold rating in a research note on Monday, October 16th. Royal Bank of Canada restated a hold rating and issued a $9.00 price target on shares of Forterra in a research note on Wednesday, November 15th. Stephens restated an equal weight rating and issued a $9.00 price target (up previously from $4.00) on shares of Forterra in a research note on Wednesday, November 15th. Citigroup boosted their price target on Forterra from $4.00 to $9.00 and gave the stock a buy rating in a research note on Friday, November 10th. Finally, Barclays boosted their price target on Forterra from $4.00 to $7.00 and gave the stock an equal weight rating in a research note on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. Forterra presently has an average rating of Hold and a consensus target price of $11.50.

Forterra (NASDAQ:FRTA) traded down $0.31 during trading on Friday, reaching $10.35. The company’s stock had a trading volume of 461,032 shares, compared to its average volume of 679,434. The company has a debt-to-equity ratio of 15.19, a quick ratio of 1.43 and a current ratio of 2.56. Forterra has a twelve month low of $3.02 and a twelve month high of $20.60.

Several hedge funds have recently bought and sold shares of FRTA. Capital World Investors purchased a new stake in Forterra during the second quarter valued at $25,249,000. Adams Asset Advisors LLC purchased a new stake in Forterra during the third quarter valued at $914,000. OxFORD Asset Management LLP purchased a new stake in Forterra during the second quarter valued at $1,707,000. Goldman Sachs Group Inc. increased its position in Forterra by 88.3% during the second quarter. Goldman Sachs Group Inc. now owns 425,456 shares of the construction company’s stock valued at $3,502,000 after acquiring an additional 199,520 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Forterra by 11.3% during the second quarter. Vanguard Group Inc. now owns 1,639,962 shares of the construction company’s stock valued at $13,497,000 after acquiring an additional 166,558 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

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