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 began coverage on Forterra in a research report on Thursday, January 5th. They set an “overweight” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. Forterra presently has a consensus rating of “Hold” and a consensus 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 company’s stock traded hands. Forterra has a 52 week low of $16.24 and a 52 week high of $22.76. The company has a 50 day moving average of $19.24 and a 200 day moving average of $19.16. The stock has a market cap of $1.21 billion and a P/E ratio of 98.24.

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Several large investors have recently bought and sold shares of FRTA. Putnam Investments LLC purchased a new stake in Forterra during the fourth quarter valued at about $12,177,000. United Capital Financial Advisers LLC purchased a new stake in Forterra during the fourth quarter valued at about $3,052,000. Ladenburg Thalmann Financial Services Inc. purchased a new stake in Forterra during the fourth quarter valued at about $109,000. Metropolitan Life Insurance Co. NY purchased a new stake in Forterra during the fourth quarter valued at about $410,000. Finally, Sound Point Capital Management LP purchased a new stake in Forterra during the fourth quarter valued at about $7,709,000. 3.99% of the stock is currently owned by institutional investors and hedge funds.

Forterra Company Profile

5 Day Chart for NASDAQ:FRTA

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