$537.82 Million in Sales Expected for Foundation Building Materials, Inc. (FBM) This Quarter
Equities analysts expect Foundation Building Materials, Inc. (NYSE:FBM) to report sales of $537.82 million for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Foundation Building Materials’ earnings, with estimates ranging from $522.60 million to $546.20 million. The business is scheduled to report its next quarterly earnings results on Tuesday, August 8th.
On average, analysts expect that Foundation Building Materials will report full year sales of $537.82 million for the current year, with estimates ranging from $2.05 billion to $2.12 billion. For the next year, analysts expect that the company will post sales of $2.26 billion per share, with estimates ranging from $2.15 billion to $2.37 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Foundation Building Materials.
FBM has been the topic of a number of research analyst reports. Stephens initiated coverage on Foundation Building Materials in a research note on Tuesday, March 14th. They issued an “overweight” rating on the stock. Royal Bank Of Canada restated a “buy” rating and issued a $20.00 price target on shares of Foundation Building Materials in a research note on Monday, April 10th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $19.86.
In other news, CFO John Gorey acquired 10,000 shares of the stock in a transaction on Thursday, May 18th. The shares were purchased at an average price of $14.49 per share, for a total transaction of $144,900.00. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ruben Mendoza acquired 32,000 shares of the stock in a transaction on Friday, May 12th. The shares were purchased at an average price of $15.56 per share, for a total transaction of $497,920.00. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 56,528 shares of company stock worth $846,016.
A number of hedge funds and other institutional investors have recently bought and sold shares of FBM. JPMorgan Chase & Co. purchased a new position in Foundation Building Materials during the first quarter valued at $133,000. Bank of America Corp DE purchased a new position in Foundation Building Materials during the first quarter valued at $258,000. Wells Fargo & Company MN purchased a new position in Foundation Building Materials during the first quarter valued at $261,000. TIAA CREF Investment Management LLC purchased a new position in Foundation Building Materials during the first quarter valued at $333,000. Finally, Schwab Charles Investment Management Inc. purchased a new position in Foundation Building Materials during the first quarter valued at $394,000. Hedge funds and other institutional investors own 92.85% of the company’s stock.
Foundation Building Materials (NYSE:FBM) opened at 11.97 on Friday. Foundation Building Materials has a 52-week low of $11.86 and a 52-week high of $17.91. The company’s market cap is $513.09 million. The stock has a 50 day moving average of $14.11 and a 200-day moving average of $15.38.
Foundation Building Materials Company Profile
Foundation Building Materials, Inc is a specialty distributor of wallboard and suspended ceiling systems in the United States and Canada. The Company’s segments include Specialty Building Products and Mechanical Insulation. The Company fabricates and distributes its products for specialty contractors seeking to improve or maintain energy efficiency in a range of commercial and industrial buildings.
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