Market Runner: Is Forterra Inc a Buy? The Stock Reaches 52-Week High Today

Market Runner: Is Forterra Inc a Buy? The Stock Reaches 52 Week High Today

The stock of Forterra Inc (NASDAQ:FRTA) hit a new 52-week high and has $31.22 target or 65.00% above today’s $18.92 share price. The 8 months bullish chart indicates low risk for the $1.15B company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $31.22 price target is reached, the company will be worth $747.50 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 242,351 shares traded hands. Forterra Inc (NASDAQ:FRTA) has risen 6.00% since October 22, 2016 and is uptrending. It has outperformed by 2.14% the S&P500.

Forterra Inc (NASDAQ:FRTA) Ratings Coverage

Out of 7 analysts covering Forterra (NASDAQ:FRTA), 4 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 57% are positive. Forterra has been the topic of 7 analyst reports since November 14, 2016 according to StockzIntelligence Inc. The stock of Forterra Inc (NASDAQ:FRTA) has “Buy” rating given on Monday, November 14 by Citigroup. The company was initiated on Monday, November 14 by Deutsche Bank. The stock has “Neutral” rating given by Goldman Sachs on Monday, November 14. RBC Capital Markets initiated the shares of FRTA in a report on Monday, November 14 with “Outperform” rating. SunTrust initiated it with “Buy” rating and $23 target price in Monday, November 14 report. The rating was initiated by Oppenheimer on Monday, November 14 with “Outperform”.

According to Zacks Investment Research, “Forterra, Inc. is a manufacturer of concrete and clay building products. It operates primarily in the United States, Canada and the United Kingdom. Forterra, Inc. is headquartered in Irving, Texas.”

More important recent Forterra Inc (NASDAQ:FRTA) news were published by: Prnewswire.com which released: “Forterra Announces Pricing Of Initial Public Offering At $18.00 Per Share” on October 19, 2016, also Prnewswire.com published article titled: “Forterra Announces Proposed Initial Public Offering”, Wsj.com published: “Jeld-Wen, Forterra Exploring Sales After Filing for IPOs” on August 10, 2016. More interesting news about Forterra Inc (NASDAQ:FRTA) was released by: Marketwatch.com and their article: “Forterra started at hold with $20 stock price target at Deutsche Bank” with publication date: August 18, 2016.

FRTA Company Profile

Forterra, Inc. is a maker of pipe and precast products. The Firm offers products for a range of water-related infrastructure applications, including water transmission, distribution and drainage.

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