Forterra (NASDAQ:FRTA) Downgraded by Goldman Sachs Group to Neutral

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Goldman Sachs Group downgraded shares of Forterra (NASDAQ:FRTA) from a buy rating to a neutral rating in a research note released on Thursday morning, BenzingaRatingsTable reports. They currently have $14.75 target price on the construction company’s stock.

A number of other brokerages also recently weighed in on FRTA. Zacks Investment Research raised Forterra from a hold rating to a buy rating and set a $15.00 price target on the stock in a research report on Wednesday, January 15th. ValuEngine downgraded Forterra from a hold rating to a sell rating in a research report on Tuesday, November 5th. Royal Bank of Canada reissued a hold rating and set a $12.00 price target on shares of Forterra in a research report on Wednesday, December 18th. SunTrust Banks raised Forterra from a hold rating to a buy rating and boosted their price target for the stock from $10.00 to $16.00 in a research report on Tuesday, January 14th. Finally, Berenberg Bank began coverage on Forterra in a research report on Tuesday, January 14th. They set a buy rating and a $16.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $12.18.

NASDAQ FRTA traded up $0.05 during trading on Thursday, reaching $13.54. 431,672 shares of the company’s stock were exchanged, compared to its average volume of 363,569. The business has a 50 day moving average price of $13.02 and a 200-day moving average price of $9.54. The stock has a market capitalization of $873.14 million, a P/E ratio of -50.15 and a beta of 2.35. The company has a debt-to-equity ratio of 11.46, a current ratio of 2.32 and a quick ratio of 1.34. Forterra has a fifty-two week low of $3.40 and a fifty-two week high of $14.81.

Large investors have recently modified their holdings of the company. Northern Trust Corp boosted its stake in shares of Forterra by 4.0% during the 2nd quarter. Northern Trust Corp now owns 219,132 shares of the construction company’s stock worth $1,089,000 after acquiring an additional 8,466 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in shares of Forterra by 29.7% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 16,439 shares of the construction company’s stock worth $82,000 after acquiring an additional 3,766 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Forterra by 19.2% during the 2nd quarter. Vanguard Group Inc. now owns 993,321 shares of the construction company’s stock worth $4,937,000 after acquiring an additional 159,888 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. bought a new stake in shares of Forterra during the 3rd quarter worth about $266,000. Finally, California Public Employees Retirement System boosted its stake in shares of Forterra by 10.6% during the 3rd quarter. California Public Employees Retirement System now owns 79,536 shares of the construction company’s stock worth $575,000 after acquiring an additional 7,636 shares in the last quarter. Institutional investors own 98.54% of the company’s stock.

About Forterra

Forterra, Inc manufactures and sells pipe and precast products the United States, Canada, and Mexico. It operates through Drainage Pipe & Products; and Water Pipe & Products segments. It offers concrete drainage pipes used for storm water applications, residential and non-residential site developments, sanitary sewers, low-pressure sewer force mains, tunneled systems, treatment plant piping, and utility tunnels.

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Analyst Recommendations for Forterra (NASDAQ:FRTA)

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