Foundation Building Materials, Inc. (NYSE:FBM) had its price target cut by Barclays PLC from $19.00 to $17.00 in a report released on Friday. They currently have an overweight rating on the stock.

Other analysts also recently issued research reports about the stock. Royal Bank Of Canada restated a buy rating and set a $20.00 price target on shares of Foundation Building Materials in a report on Monday, April 10th. Zacks Investment Research downgraded shares of Foundation Building Materials from a hold rating to a sell rating in a report on Thursday, July 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. Foundation Building Materials has an average rating of Buy and an average price target of $18.86.

Shares of Foundation Building Materials (FBM) traded up 0.08% during midday trading on Friday, reaching $11.87. The company’s stock had a trading volume of 274,317 shares. The company has a 50 day moving average price of $12.76 and a 200-day moving average price of $14.77. Foundation Building Materials has a 52 week low of $11.22 and a 52 week high of $17.91. The stock’s market capitalization is $508.81 million.

Foundation Building Materials (NYSE:FBM) last released its quarterly earnings data on Thursday, August 3rd. The company reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.11. The business had revenue of $529.20 million for the quarter, compared to the consensus estimate of $536.72 million. Foundation Building Materials’s quarterly revenue was up 95.9% on a year-over-year basis. On average, equities research analysts expect that Foundation Building Materials will post $0.41 EPS for the current year.

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In other news, CFO John Gorey purchased 10,000 shares of the business’s stock in a transaction dated Thursday, May 18th. The stock was acquired at an average price of $14.49 per share, for a total transaction of $144,900.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ruben Mendoza purchased 14,000 shares of the business’s stock in a transaction dated Friday, May 26th. The shares were purchased at an average price of $13.98 per share, with a total value of $195,720.00. The disclosure for this purchase can be found here. Insiders have bought a total of 56,528 shares of company stock valued at $846,016 in the last 90 days.

Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. bought a new stake in Foundation Building Materials during the first quarter valued at $133,000. Rhumbline Advisers bought a new stake in Foundation Building Materials during the second quarter valued at $175,000. Bank of America Corp DE bought a new stake in Foundation Building Materials during the first quarter valued at $258,000. Wells Fargo & Company MN bought a new stake in Foundation Building Materials during the first quarter valued at $261,000. Finally, Marshall Wace North America L.P. bought a new stake in Foundation Building Materials during the second quarter valued at $285,000. Institutional investors and hedge funds own 91.01% 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)

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