Barclays Analysts Give Forterra (FRTA) a $8.00 Price Target

Forterra (NASDAQ:FRTA) has been assigned a $8.00 price target by research analysts at Barclays in a report released on Monday. The firm presently has a “hold” rating on the construction company’s stock. Barclays’ target price would indicate a potential downside of 27.34% from the company’s current price.

A number of other analysts have also commented on the stock. Zacks Investment Research upgraded shares of Forterra from a “sell” rating to a “hold” rating in a research note on Monday, October 16th. Royal Bank of Canada reiterated a “hold” rating and issued a $9.00 price target on shares of Forterra in a research note on Wednesday, November 15th. Stephens reiterated an “equal weight” rating and issued a $9.00 price target (up from $4.00) on shares of Forterra in a research note on Wednesday, November 15th. Citigroup lifted their price target on shares of Forterra from $4.00 to $9.00 and gave the stock a “buy” rating in a research note on Friday, November 10th. Finally, ValuEngine lowered shares of Forterra from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $11.50.

Shares of Forterra (FRTA) traded down $0.29 during mid-day trading on Monday, hitting $11.01. 616,100 shares of the stock were exchanged, compared to its average volume of 600,375. Forterra has a 52-week low of $3.02 and a 52-week high of $20.90. The company has a debt-to-equity ratio of 15.19, a current ratio of 2.56 and a quick ratio of 1.43.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Voya Investment Management LLC purchased a new position in shares of Forterra in the second quarter worth approximately $104,000. Rhumbline Advisers boosted its holdings in shares of Forterra by 28.7% in the second quarter. Rhumbline Advisers now owns 19,598 shares of the construction company’s stock worth $161,000 after buying an additional 4,365 shares during the last quarter. Paradigm Capital Management Inc. NY purchased a new position in shares of Forterra in the third quarter worth approximately $137,000. Swiss National Bank purchased a new position in shares of Forterra in the second quarter worth approximately $264,000. Finally, Brave Asset Management Inc. purchased a new position in shares of Forterra in the third quarter worth approximately $163,000. 99.85% of the stock is currently owned by institutional investors.

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