Oppenheimer analyst Ian Zaffino maintained a Buy rating on Forterra Inc (FRTA) yesterday and set a price target of $13. The company’s shares closed yesterday at $4.90.
Zaffino noted:
“Driven by higher selling prices and operational efficiencies in both 1Q19 adjusted EBITDA of $19.9M beat our/Street’s $10.0M/$11.7M estimates. Revenues of $291.9M were also above our/Street’s $274.7M/$275.8M as both segments were able to capture strong pricing to offset lower volumes, primarily driven by weather-related delays. With a strong 1Q19, management reiterated FY2019 guidance, calling for adjusted EBITDA of $170M-$200M, owing to positive volume and pricing trends. Maintain Outperform.”
According to TipRanks.com, Zaffino is a 4-star analyst with an average return of 3.9% and a 57.2% success rate. Zaffino covers the Services sector, focusing on stocks such as Servicemaster Global Holdings, Wyndham Hotels & Resorts Inc, and Wyndham Destinations Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Forterra Inc with a $9 average price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $10.47 and a one-year low of $3.25. Currently, Forterra Inc has an average volume of 249.9K.
Based on the recent corporate insider activity of 10 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FRTA in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Forterra, Inc. manufacturers and sales pipe and precast products. It manufactures water drainage pipe & precast structures and water transmission & distribution pipes. The firm provides critical infrastructure components for a spectrum of construction projects across residential, non-residential and infrastructure markets.
