Foundation Building Materials, Inc. (NYSE:FBM) Price Target Cut to $15.00
Foundation Building Materials, Inc. (NYSE:FBM) had its price target lowered by Royal Bank Of Canada from $20.00 to $15.00 in a report published on Friday, MarketBeat reports. The firm currently has an outperform rating on the stock.
Separately, Zacks Investment Research lowered Foundation Building Materials from a hold rating to a sell rating in a research report on Thursday, July 13th. One 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’s stock. The stock currently has an average rating of Buy and an average target price of $18.86.
Foundation Building Materials (NYSE FBM) opened at 11.76 on Friday. Foundation Building Materials has a 52 week low of $11.12 and a 52 week high of $17.91. The stock’s market capitalization is $504.09 million. The firm has a 50-day moving average of $12.76 and a 200 day moving average of $14.77.
Foundation Building Materials (NYSE:FBM) last announced its earnings results on Thursday, August 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.11. The business had revenue of $529.20 million during the quarter, compared to the consensus estimate of $536.72 million. The company’s revenue for the quarter was up 95.9% compared to the same quarter last year. On average, analysts anticipate that Foundation Building Materials will post $0.41 EPS for the current year.
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In other news, insider Ruben Mendoza purchased 14,000 shares of the stock in a transaction dated Friday, May 26th. The stock was acquired at an average cost of $13.98 per share, for a total transaction of $195,720.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO John Gorey purchased 10,000 shares of the stock in a transaction dated Thursday, May 18th. The stock was purchased at an average price of $14.49 per share, with a total value of $144,900.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 56,528 shares of company stock worth $846,016.
Large investors have recently modified their holdings of the stock. Boston Partners purchased a new stake in shares of Foundation Building Materials during the first quarter worth $9,242,000. American Century Companies Inc. purchased a new stake in shares of Foundation Building Materials during the first quarter worth $10,095,000. KRV Capital LP purchased a new stake in shares of Foundation Building Materials during the first quarter worth $5,099,000. Kornitzer Capital Management Inc. KS purchased a new stake in shares of Foundation Building Materials during the first quarter worth $1,773,000. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Foundation Building Materials during the first quarter worth $31,986,000. Institutional investors and hedge funds own 91.02% of the company’s stock.
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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