Foundation Building Materials, Inc. (NYSE:FBM)‘s stock had its “buy” rating reiterated by analysts at Royal Bank Of Canada in a report released on Wednesday. They currently have a $15.00 price objective on the stock. Royal Bank Of Canada’s price target would suggest a potential upside of 10.70% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Foundation Building Materials from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Barclays PLC reduced their price objective on shares of Foundation Building Materials from $19.00 to $17.00 and set an “overweight” rating on the stock in a research report on Friday, August 4th. Finally, Deutsche Bank AG reduced their price objective on shares of Foundation Building Materials from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, August 9th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $18.43.

Shares of Foundation Building Materials (NYSE FBM) traded up 4.15% during mid-day trading on Wednesday, hitting $13.55. 375,786 shares of the stock were exchanged. The stock’s market capitalization is $580.82 million. Foundation Building Materials has a 52 week low of $11.03 and a 52 week high of $17.91. The stock’s 50-day moving average is $12.02 and its 200-day moving average is $14.26.

Foundation Building Materials (NYSE:FBM) last announced its earnings results on Thursday, August 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by $0.11. The business had revenue of $529.20 million for the quarter, compared to analyst estimates of $536.72 million. Foundation Building Materials’s revenue for the quarter was up 95.9% compared to the same quarter last year. Analysts forecast that Foundation Building Materials will post $0.31 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Royal Bank Of Canada Reiterates Buy Rating for Foundation Building Materials, Inc. (FBM)” was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece on another domain, it was illegally copied and reposted in violation of US and international trademark & copyright law. The legal version of this piece can be read at https://www.thecerbatgem.com/2017/09/06/royal-bank-of-canada-reiterates-buy-rating-for-foundation-building-materials-inc-fbm.html.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. bought a new position in shares of Foundation Building Materials during the 1st quarter valued at approximately $31,986,000. American Century Companies Inc. lifted its position in Foundation Building Materials by 72.9% in the second quarter. American Century Companies Inc. now owns 1,092,729 shares of the company’s stock worth $14,052,000 after buying an additional 460,583 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in Foundation Building Materials in the first quarter worth $11,163,000. Neuberger Berman Group LLC bought a new stake in Foundation Building Materials in the first quarter worth $10,117,000. Finally, Principal Financial Group Inc. bought a new stake in Foundation Building Materials in the first quarter worth $9,582,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

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.

Analyst Recommendations for Foundation Building Materials (NYSE:FBM)

Receive News & Stock Ratings for Foundation Building Materials Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Foundation Building Materials Inc. and related stocks with our FREE daily email newsletter.