SunTrust Banks set a $7.00 target price on Forterra (NASDAQ:FRTA) in a research note issued to investors on Wednesday morning. The firm currently has a hold rating on the construction company’s stock. SunTrust Banks also issued estimates for Forterra’s Q4 2017 earnings at ($0.24) EPS, FY2017 earnings at $0.10 EPS, Q1 2018 earnings at ($0.28) EPS, Q2 2018 earnings at $0.14 EPS, Q3 2018 earnings at $0.26 EPS, Q4 2018 earnings at ($0.15) EPS, FY2018 earnings at ($0.03) EPS and FY2019 earnings at $0.20 EPS.
FRTA has been the subject of a number of other reports. Goldman Sachs Group cut shares of Forterra from a neutral rating to a sell rating and set a $21.00 price objective for the company. in a research note on Tuesday, January 30th. Zacks Investment Research cut shares of Forterra from a buy rating to a hold rating in a research note on Monday, January 1st. Royal Bank of Canada restated a hold rating and issued a $9.00 price objective on shares of Forterra in a research note on Wednesday, November 15th. Barclays set a $8.00 price objective on shares of Forterra and gave the stock a hold rating in a research note on Monday, January 8th. Finally, Stephens restated an equal weight rating and issued a $9.00 price objective (up from $4.00) on shares of Forterra in a research note on Wednesday, November 15th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. Forterra currently has an average rating of Hold and an average target price of $11.81.
Shares of Forterra (FRTA) opened at $8.75 on Wednesday. The company has a debt-to-equity ratio of 9.54, a current ratio of 2.39 and a quick ratio of 1.43. Forterra has a one year low of $3.02 and a one year high of $20.47.
Several institutional investors have recently modified their holdings of FRTA. Voya Investment Management LLC acquired a new position in Forterra during the 2nd quarter valued at $104,000. Bank of Montreal Can raised its stake in Forterra by 379.5% during the 4th quarter. Bank of Montreal Can now owns 9,590 shares of the construction company’s stock valued at $107,000 after purchasing an additional 7,590 shares during the last quarter. Rehmann Capital Advisory Group acquired a new position in Forterra during the 4th quarter valued at $124,000. Paradigm Capital Management Inc. NY acquired a new position in Forterra during the 3rd quarter valued at $137,000. Finally, Two Sigma Investments LP acquired a new position in Forterra during the 4th quarter valued at $139,000.
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Forterra, Inc is a manufacturer of pipe and precast products. The Company offers products for a range of water-related infrastructure applications, including water transmission, distribution and drainage. The Company operates approximately 95 facilities. Its products are available in the United States and Eastern Canada.
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