Forterra Inc Receives a Hold from RBC Capital

By Ryan Adsit

In a report released yesterday, Robert Wetenhall from RBC Capital reiterated a Hold rating on Forterra Inc (NASDAQ: FRTA), with a price target of $9. The company’s shares closed yesterday at $8.26.

According to TipRanks.com, Wetenhall is a top 25 analyst with an average return of 18.3% and a 82.4% success rate. Wetenhall covers the Industrial Goods sector, focusing on stocks such as Continental Building Products, Installed Building Products, and Advanced Drainage Systems.

Forterra Inc has an analyst consensus of Moderate Buy, with a price target consensus of $6.67.

Based on Forterra Inc’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $444 million and GAAP net loss of $11.5 million. In comparison, last year the company earned revenue of $480 million and had a net profit of $8.37 million.

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Forterra, Inc. manufacturers and sales pipe and precast products. The company provides critical infrastructure components for a spectrum of construction projects across residential, non-residential and infrastructure markets. It operates through the flowing segments: Drainage Pipe & Products, Water Pipe & Products and Corporate & Other .