Price Action to Note: What’s in Forterra Inc After Making 52-Week High?

Price Action to Note: What's in Forterra Inc After Making 52 Week High?

The stock of Forterra Inc (NASDAQ:FRTA) hit a new 52-week high and has $20.86 target or 9.00% above today’s $19.14 share price. The 5 months bullish chart indicates low risk for the $1.27 billion company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $20.86 price target is reached, the company will be worth $114.30M 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 333,646 shares traded hands. Forterra Inc (NASDAQ:FRTA) has risen 6.00% since October 29, 2016 and is uptrending. It has underperformed by 0.01% 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. SunTrust initiated the stock with “Buy” rating in Monday, November 14 report. Goldman Sachs initiated the stock with “Neutral” rating in Monday, November 14 report. Deutsche Bank initiated the shares of FRTA in a report on Monday, November 14 with “Hold” rating. Citigroup initiated Forterra Inc (NASDAQ:FRTA) on Monday, November 14 with “Buy” rating. The stock of Forterra Inc (NASDAQ:FRTA) earned “Outperform” rating by Oppenheimer on Monday, November 14. The company was initiated on Monday, November 14 by RBC Capital Markets.

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 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 the news titled: “Forterra Announces Proposed Initial Public Offering” on October 07, 2016. Marketwatch.com‘s news article titled: “Forterra started at hold with $20 stock price target at Deutsche Bank” with publication date: August 18, 2016 was also an interesting one.

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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