Oppenheimer analyst Ian Zaffino maintained a Buy rating on Forterra Inc (NASDAQ: FRTA) yesterday and set a price target of $13. The company’s shares closed yesterday at $9.29.
Zaffino said:
“Demand in Drainage segment remains solid, driven by resi infrastructure. In the Water segment, price increases and operational efficiencies appear sufficient to offset higher scrap steel prices. Comps remain easy, as the company laps last year’s adverse weather and operational issues. Further, the company recently hired a new COO who is heavily focused on operational efficiencies. Maintain Outperform.”
According to TipRanks.com, Zaffino is a 4-star analyst with an average return of 3.6% and a 55.4% success rate. Zaffino covers the Services sector, focusing on stocks such as Servicemaster Global Holdings, Wyndham Destinations Inc, and Peak Resorts.
Forterra Inc has an analyst consensus of Moderate Buy, with a price target consensus of $13.
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Forterra Inc’s market cap is currently $596.7M and has a P/E ratio of 32.03. The company has a Price to Book ratio of 4.95.
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Forterra, Inc. manufacturers and sales pipe and precast products. The firm 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 . The Drainage Pipe & Products segment is a producer of concrete drainage pipe and precast products in the United States and Eastern Canada. The Water Pipe & Products segment is a producer of ductile iron pipe and concrete and steel pressure pipe. The Corporate & Other segment consists of corporate overhead locations in the United States. The company was founded in 2005 and is headquartered in Irving, TX.
