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.
WARNING: “Barclays Analysts Give Forterra (FRTA) a $8.00 Price Target” was first reported by Equities Focus and is the sole property of of Equities Focus. If you are viewing this piece of content on another publication, it was illegally stolen and reposted in violation of United States & international trademark and copyright laws. The legal version of this piece of content can be viewed at https://www.equitiesfocus.com/2018/01/08/forterra-frta-stock-rating-reaffirmed-by-barclays.html.
Receive News & Ratings for Forterra Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forterra and related companies with MarketBeat.com's FREE daily email newsletter.