Foundation Building Materials (NYSE:FBM)‘s stock had its “hold” rating reaffirmed by research analysts at Royal Bank of Canada in a note issued to investors on Monday, AnalystRatings.com reports. They currently have a $15.00 price objective on the stock. Royal Bank of Canada’s target price would suggest a potential downside of 3.91% from the company’s previous close.

FBM has been the topic of a number of other reports. Raymond James lowered their target price on shares of Foundation Building Materials from $20.00 to $18.00 and set a “strong-buy” rating on the stock in a report on Monday, March 16th. Zacks Investment Research downgraded shares of Foundation Building Materials from a “buy” rating to a “hold” rating in a report on Thursday, April 9th. TheStreet upgraded shares of Foundation Building Materials from a “c” rating to a “b-” rating in a report on Monday, June 22nd. ValuEngine upgraded shares of Foundation Building Materials from a “sell” rating to a “hold” rating in a report on Wednesday, May 6th. Finally, Barclays restated a “buy” rating and set a $16.00 target price on shares of Foundation Building Materials in a report on Wednesday, May 13th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Foundation Building Materials presently has an average rating of “Hold” and a consensus target price of $16.75.

Shares of FBM stock opened at $15.61 on Monday. The company’s fifty day simple moving average is $14.21 and its 200-day simple moving average is $14.96. The company has a quick ratio of 2.02, a current ratio of 2.74 and a debt-to-equity ratio of 1.84. The firm has a market cap of $634.65 million, a PE ratio of 13.23, a P/E/G ratio of 28.17 and a beta of 1.69. Foundation Building Materials has a 12 month low of $7.99 and a 12 month high of $22.14.

Foundation Building Materials (NYSE:FBM) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.09. The business had revenue of $524.26 million for the quarter, compared to analyst estimates of $519.49 million. Foundation Building Materials had a net margin of 2.36% and a return on equity of 12.82%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.14 earnings per share. On average, equities analysts predict that Foundation Building Materials will post 0.35 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in shares of Foundation Building Materials by 0.7% in the first quarter. BlackRock Inc. now owns 3,460,953 shares of the company’s stock valued at $35,615,000 after purchasing an additional 25,727 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Foundation Building Materials by 38.0% in the fourth quarter. Renaissance Technologies LLC now owns 1,508,100 shares of the company’s stock valued at $29,182,000 after purchasing an additional 415,100 shares during the last quarter. Nuveen Asset Management LLC grew its stake in shares of Foundation Building Materials by 35.6% in the fourth quarter. Nuveen Asset Management LLC now owns 865,680 shares of the company’s stock valued at $16,751,000 after acquiring an additional 227,091 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Foundation Building Materials by 1.4% in the first quarter. Acadian Asset Management LLC now owns 674,693 shares of the company’s stock valued at $6,942,000 after acquiring an additional 9,185 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Foundation Building Materials by 17.0% in the first quarter. State Street Corp now owns 600,839 shares of the company’s stock valued at $6,183,000 after acquiring an additional 87,411 shares in the last quarter. Hedge funds and other institutional investors own 96.87% of the company’s stock.

About Foundation Building Materials

Foundation Building Materials, Inc distributes building products in the United States and Canada. It offers wallboard, suspended ceiling system, and metal framing products. The company also provides complementary and other products, tools, and accessories, such as wallboard accessories, stucco and finishing systems, safety accessories, fasteners, insulations, doors, and roofing products.

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Analyst Recommendations for Foundation Building Materials (NYSE:FBM)

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