Shares of Foundation Building Materials Inc (NYSE:FBM) have earned a consensus rating of “Buy” from the nine research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, four have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $17.57.

FBM has been the subject of several recent analyst reports. Deutsche Bank lifted their price objective on shares of Foundation Building Materials from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, June 25th. Evercore ISI initiated coverage on shares of Foundation Building Materials in a research note on Thursday, June 28th. They set an “in-line” rating and a $17.00 price objective for the company. Zacks Investment Research raised shares of Foundation Building Materials from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Tuesday, July 10th. Finally, Barclays dropped their price objective on shares of Foundation Building Materials from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, August 13th.

Large investors have recently added to or reduced their stakes in the company. Citigroup Inc. lifted its position in shares of Foundation Building Materials by 254.0% during the first quarter. Citigroup Inc. now owns 7,189 shares of the company’s stock worth $107,000 after purchasing an additional 5,158 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of Foundation Building Materials during the second quarter worth $174,000. CIBC World Markets Inc. bought a new stake in shares of Foundation Building Materials during the second quarter worth $179,000. Globeflex Capital L P bought a new stake in shares of Foundation Building Materials during the second quarter worth $193,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Foundation Building Materials during the first quarter worth $260,000. Institutional investors and hedge funds own 92.52% of the company’s stock.

FBM stock opened at $11.52 on Wednesday. Foundation Building Materials has a fifty-two week low of $11.48 and a fifty-two week high of $16.40. The company has a quick ratio of 1.60, a current ratio of 2.41 and a debt-to-equity ratio of 1.66. The firm has a market capitalization of $534.89 million, a P/E ratio of 38.40 and a beta of 0.26.

Foundation Building Materials (NYSE:FBM) last posted its earnings results on Thursday, August 9th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). Foundation Building Materials had a net margin of 3.72% and a return on equity of 5.15%. The business had revenue of $605.00 million during the quarter, compared to analysts’ expectations of $586.66 million. During the same period last year, the business posted $0.03 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. Analysts predict that Foundation Building Materials will post 0.53 earnings per share for the current year.

Foundation Building Materials Company Profile

Foundation Building Materials, Inc distributes building products in the United States and Canada. It operates through two segments, Specialty Building Products and Mechanical Insulation. The Specialty Building Products segment distributes wallboard, metal framing, suspended ceiling system, and other products.

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Analyst Recommendations for Foundation Building Materials (NYSE:FBM)

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