Forterra (FRTA) Issues Earnings Results

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Forterra (NASDAQ:FRTA) announced its quarterly earnings data on Tuesday. The construction company reported $0.09 EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.02), Morningstar.com reports. Forterra had a net margin of 1.24% and a negative return on equity of 37.94%. The firm had revenue of $434.51 million during the quarter, compared to analyst estimates of $449.72 million. During the same period last year, the business posted ($0.18) EPS. The company’s revenue was down 2.2% on a year-over-year basis.

Shares of NASDAQ:FRTA traded up $0.05 during mid-day trading on Wednesday, hitting $6.06. 2,336 shares of the company traded hands, compared to its average volume of 440,126. The stock has a market cap of $338.41 million, a price-to-earnings ratio of -7.63 and a beta of 2.43. The company has a quick ratio of 1.14, a current ratio of 2.15 and a debt-to-equity ratio of 11.59. Forterra has a 12-month low of $4.39 and a 12-month high of $12.30.

A number of equities research analysts have commented on FRTA shares. BidaskClub cut Forterra from a “sell” rating to a “strong sell” rating in a research note on Friday, September 28th. Barclays raised their price objective on Forterra from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Monday, August 13th. Zacks Investment Research raised Forterra from a “sell” rating to a “hold” rating in a research report on Monday, August 27th. Citigroup lifted their target price on Forterra from $9.50 to $10.50 and gave the company a “neutral” rating in a research report on Thursday, August 9th. Finally, Oppenheimer set a $13.00 target price on Forterra and gave the company a “buy” rating in a research report on Wednesday, October 31st. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. Forterra currently has a consensus rating of “Hold” and a consensus target price of $10.47.

Several large investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC purchased a new position in shares of Forterra during the third quarter valued at approximately $249,000. Valeo Financial Advisors LLC lifted its holdings in Forterra by 350.0% during the third quarter. Valeo Financial Advisors LLC now owns 45,000 shares of the construction company’s stock worth $203,000 after acquiring an additional 35,000 shares during the period. Fox Run Management L.L.C. bought a new stake in Forterra during the third quarter worth $145,000. Northern Trust Corp lifted its holdings in Forterra by 4.2% during the second quarter. Northern Trust Corp now owns 188,157 shares of the construction company’s stock worth $1,831,000 after acquiring an additional 7,592 shares during the period. Finally, Intrinsic Edge Capital Management LLC bought a new stake in Forterra during the second quarter worth $487,000.

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About Forterra

Forterra, Inc manufactures and sells water and drainage pipe and products in the United States and Eastern Canada. It also manufactures structural and specialty precast products, and precast concrete bridge girders; and pressure, prestressed concrete, and bar-wrapped concrete pipes. The company serves water-related infrastructure applications, including water transmission, distribution, and drainage; and contractors, distributors, municipalities, and utilities waterworks.

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Earnings History for Forterra (NASDAQ:FRTA)

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