Foundation Building Materials, Inc. (NYSE:FBM)’s share price traded down 6.5% during mid-day trading on Thursday . The stock traded as low as $13.03 and last traded at $13.29. 675,766 shares changed hands during trading, an increase of 328% from the average session volume of 157,739 shares. The stock had previously closed at $14.21.

Several equities analysts recently issued reports on the company. Royal Bank Of Canada restated a “buy” rating and set a $15.00 price target on shares of Foundation Building Materials in a research report on Tuesday. Deutsche Bank AG reduced their price target on 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. Robert W. Baird restated a “hold” rating and set a $15.00 price target on shares of Foundation Building Materials in a research report on Monday, October 9th. Zacks Investment Research lowered Foundation Building Materials from a “hold” rating to a “sell” rating in a research report on Monday, September 25th. Finally, Barclays PLC reduced their price target on 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. Foundation Building Materials has a consensus rating of “Buy” and an average price target of $18.00.

The company’s 50-day moving average price is $13.70 and its 200-day moving average price is $13.70. The stock’s market capitalization is $577.82 million.

Foundation Building Materials (NYSE:FBM) last released its earnings results on Thursday, August 3rd. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.11). The firm had revenue of $529.20 million during the quarter, compared to analysts’ expectations of $536.72 million. The company’s revenue was up 95.9% on a year-over-year basis. On average, equities analysts expect that Foundation Building Materials, Inc. will post $0.27 earnings per share for the current year.

A number of large investors have recently made changes to their positions in FBM. Wells Fargo & Company MN bought a new position in Foundation Building Materials in the first quarter worth approximately $261,000. Bank of New York Mellon Corp bought a new position in Foundation Building Materials in the first quarter worth approximately $519,000. Sei Investments Co. bought a new position in Foundation Building Materials in the first quarter worth approximately $521,000. Parametric Portfolio Associates LLC bought a new position in Foundation Building Materials in the first quarter worth approximately $1,256,000. Finally, JPMorgan Chase & Co. bought a new position in Foundation Building Materials in the first quarter worth approximately $133,000. 92.08% of the stock is currently owned by institutional investors.

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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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