Foundation Building Materials Inc (FBM) Receives Consensus Rating of “Buy” from Analysts
Shares of Foundation Building Materials Inc (NYSE:FBM) have earned an average recommendation of “Buy” from the ten brokerages that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $18.43.
Several analysts recently commented on FBM shares. Robert W. Baird reaffirmed a “hold” rating and issued a $16.00 price target on shares of Foundation Building Materials in a research note 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 research note on Wednesday, November 8th. Finally, Zacks Investment Research raised Foundation Building Materials from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 13th.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Alyeska Investment Group L.P. raised its position in Foundation Building Materials by 47.0% in the 3rd 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 last quarter. American Century Companies Inc. raised its position in Foundation Building Materials by 15.0% in the 3rd 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 last quarter. Citadel Advisors LLC raised its position in Foundation Building Materials by 28.0% in the 3rd 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 last quarter. Elk Creek Partners LLC raised its position in Foundation Building Materials by 7.3% in the 3rd 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 last quarter. Finally, Paradigm Capital Management Inc. NY bought a new position in Foundation Building Materials in the 3rd quarter valued at $5,178,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.
Shares of Foundation Building Materials (NYSE:FBM) opened at $16.07 on Monday. The company has a debt-to-equity ratio of 2.02, a current ratio of 2.63 and a quick ratio of 1.82. The company has a market capitalization of $688.85 and a price-to-earnings ratio of -133.92. Foundation Building Materials has a one year low of $11.03 and a one year high of $17.91.
Foundation Building Materials (NYSE:FBM) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $0.08 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.08. The business had revenue of $535.40 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 28.8% on a year-over-year basis. equities analysts forecast that Foundation Building Materials will post 0.17 earnings per share for the current year.
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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