Here's Why Forterra Inc's Stock Is Plunging Today [The Motley Fool]
Forterra, Inc. (FRTA)
Last forterra, inc. earnings: 4/29 06:28 pm
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US:NASDAQ Investor Relations:
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Source: The Motley Fool
The industrial supplier's stock got downgraded. Matthew DiLallo ( TMFmd19 ) Jan 31, 2018 at 11:39AM What happened Shares of Forterra Inc. ( NASDAQ:FRTA ) plummeted on Wednesday and were down 20% at 10:45 a.m. EST after an analyst at Goldman Sachs downgraded the stock. So what The bank cut its rating on the pipe manufacturer from neutral to sell, and set its price target at $5 per share, which is still $2 above where the stock currently trades even after today's downdraft. The analyst argues that the company has limited growth prospects and faces rising input cost pressures, which would limit its ability to generate free cash flow. Image source: Getty Images. Forterra's share price has been excruciatingly volatile over the past year. Its downward spiral started last May after the company's disappointing first-quarter results , which
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