Foundation Building Materials, Inc. (FBM) Given Average Recommendation of “Buy” by Brokerages
Foundation Building Materials, Inc. (NYSE:FBM) has earned a consensus recommendation of “Buy” from the ten analysts that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $18.43.
FBM has been the topic of several recent analyst reports. Zacks Investment Research upgraded Foundation Building Materials from a “sell” rating to a “hold” rating in a report on Wednesday, August 30th. Royal Bank Of Canada reiterated a “buy” rating and set a $15.00 price objective on shares of Foundation Building Materials in a report on Wednesday, September 6th. Deutsche Bank AG cut their price objective on Foundation Building Materials from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, August 9th. Finally, Barclays PLC cut their price objective on Foundation Building Materials from $19.00 to $17.00 and set an “overweight” rating on the stock in a report on Friday, August 4th.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC lifted its stake in Foundation Building Materials by 9.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 20,223 shares of the company’s stock valued at $260,000 after acquiring an additional 1,710 shares in the last quarter. Teachers Advisors LLC lifted its stake in Foundation Building Materials by 51.1% in the 2nd quarter. Teachers Advisors LLC now owns 22,477 shares of the company’s stock valued at $289,000 after acquiring an additional 7,601 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in Foundation Building Materials in the 1st quarter valued at approximately $133,000. Wells Fargo & Company MN lifted its stake in Foundation Building Materials by 58.0% in the 2nd quarter. Wells Fargo & Company MN now owns 25,870 shares of the company’s stock valued at $333,000 after acquiring an additional 9,500 shares in the last quarter. Finally, Virtu KCG Holdings LLC bought a new stake in Foundation Building Materials in the 2nd quarter valued at approximately $129,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.
Foundation Building Materials (NYSE FBM) opened at 14.14 on Friday. The stock has a 50 day moving average price of $13.10 and a 200-day moving average price of $13.10. Foundation Building Materials has a one year low of $12.32 and a one year high of $17.61. The firm’s market cap is $606.11 million.
Foundation Building Materials (NYSE:FBM) last released its quarterly earnings data on Thursday, August 3rd. The company reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.11). The firm had revenue of $529.20 million during the quarter, compared to analyst estimates of $536.72 million. The company’s revenue was up 95.9% on a year-over-year basis. Analysts predict that Foundation Building Materials will post $0.31 EPS for the current fiscal year.
About Foundation Building Materials
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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