Zacks Investment Research lowered shares of Foundation Building Materials (NYSE:FBM) from a hold rating to a sell rating in a research note published on Wednesday.

According to Zacks, “Foundation Building Materials, Inc. is a specialty distributor of wallboard and suspended ceiling systems primarily in U.S. and Canada. The Company’s segments include Specialty Building Products and Mechanical Insulation. Specialty building products segment distributes wallboard and accessories, metal framing, suspended ceiling systems and other products. Mechanical insulation segment includes insulation solutions for pipes and mechanical systems. Foundation Building Materials, Inc. is based in Tustin, California. “

A number of other research firms have also recently commented on FBM. Robert W. Baird reiterated a hold rating and set a $16.00 price objective on shares of Foundation Building Materials in a research report on Friday, November 10th. Royal Bank of Canada boosted their price target on Foundation Building Materials from $15.00 to $17.00 and gave the company an outperform rating in a report on Wednesday, November 8th. Finally, Barclays set a $19.00 price target on Foundation Building Materials and gave the company a buy rating in a report on Sunday, January 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $18.71.

Foundation Building Materials (NYSE:FBM) traded down $0.05 during trading on Wednesday, reaching $15.95. The company had a trading volume of 43,911 shares, compared to its average volume of 110,680. The stock has a market capitalization of $683.70 and a PE ratio of -132.92. The company has a debt-to-equity ratio of 2.02, a quick ratio of 1.82 and a current ratio of 2.63. Foundation Building Materials has a 12 month low of $11.03 and a 12 month high of $17.91.

Foundation Building Materials (NYSE:FBM) last posted its quarterly earnings data on Tuesday, November 7th. The company reported $0.08 EPS for the quarter, meeting analysts’ consensus estimates of $0.08. The company had revenue of $535.40 million during the quarter, compared to analysts’ expectations of $535.81 million. Foundation Building Materials had a negative return on equity of 2.98% and a negative net margin of 0.11%. The business’s revenue for the quarter was up 28.8% on a year-over-year basis. equities research analysts anticipate that Foundation Building Materials will post 0.17 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. Alyeska Investment Group L.P. grew its holdings in Foundation Building Materials by 47.0% during the third quarter. Alyeska Investment Group L.P. now owns 1,356,013 shares of the company’s stock valued at $19,174,000 after purchasing an additional 433,700 shares during the period. American Century Companies Inc. grew its holdings in Foundation Building Materials by 15.0% during the third quarter. American Century Companies Inc. now owns 1,256,424 shares of the company’s stock valued at $17,766,000 after purchasing an additional 163,695 shares during the period. Citadel Advisors LLC grew its holdings in Foundation Building Materials by 28.0% during the third quarter. Citadel Advisors LLC now owns 578,666 shares of the company’s stock valued at $8,182,000 after purchasing an additional 126,474 shares during the period. Elk Creek Partners LLC grew its holdings in Foundation Building Materials by 7.3% during the third quarter. Elk Creek Partners LLC now owns 576,205 shares of the company’s stock valued at $8,148,000 after purchasing an additional 39,403 shares during the period. Finally, Paradigm Capital Management Inc. NY bought a new position in shares of Foundation Building Materials in the third quarter worth about $5,178,000. 94.94% of the stock is owned by institutional investors and hedge funds.

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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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