RBC Capital analyst Robert Wetenhall downgraded Forterra Inc (NASDAQ: FRTA) to Hold today and set a price target of $16. The company’s shares closed yesterday at $14.93, close to its 52-week low of $13.81.
According to TipRanks.com, Wetenhall is a top 25 analyst with an average return of 14.0% and a 81.3% success rate. Wetenhall covers the Industrial Goods sector, focusing on stocks such as Continental Building Products, Installed Building Products, and Masonite International.
Forterra Inc has an analyst consensus of Moderate Buy, with a price target consensus of $20.
Based on Forterra Inc’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $338 million and GAAP net loss of $22.54 million. In comparison, last year the company earned revenue of $362 million and had a GAAP net loss of $13.42 million.
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Forterra, Inc. manufacturers and sales pipe and precast products. It provides critical infrastructure components for a broad spectrum of construction projects across residential, non-residential and infrastructure markets. Forterra operates through the flowing segments: Drainage Pipe & products, Water Pipe & products and Bricks. The company was founded in 2005 and is headquartered in Irving, TX.