FGI Industries (NASDAQ:FGI) Stock Rating Raised to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of FGI Industries (NASDAQ:FGI) from a buy rating to a strong-buy rating in a research note published on Saturday,Wall Street Zen reports.

A number of other brokerages have also commented on FGI. Benchmark reiterated a “speculative buy” rating and set a $13.00 price target (up from $8.00) on shares of FGI Industries in a report on Friday, August 14th. UBS Group set a $13.00 price objective on FGI Industries in a report on Friday, August 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of FGI Industries in a research report on Monday, September 21st. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $13.00.

FGI Industries Price Performance

NASDAQ:FGI opened at $7.56 on Friday. The firm’s 50 day simple moving average is $7.79 and its 200 day simple moving average is $6.04. FGI Industries has a one year low of $3.14 and a one year high of $19.93. The company has a market cap of $14.59 million, a PE ratio of -3.63 and a beta of 2.26.

FGI Industries (NASDAQ:FGI) last posted its earnings results on Wednesday, August 12th. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.50. The firm had revenue of $31.89 million for the quarter, compared to analyst estimates of $33.85 million. FGI Industries had a negative net margin of 3.07% and a positive return on equity of 10.02%. Equities research analysts expect that FGI Industries will post -0.61 EPS for the current year.

About FGI Industries

FGI Industries Ltd. is a global manufacturer and distributor of bathroom and kitchen products. The company supplies products for residential, hospitality, commercial and multifamily construction applications through retail, wholesale and e-commerce channels.

Its product portfolio includes bathroom vanities and furniture, bathtubs, shower systems and enclosures, toilets, sinks, faucets, mirrors and related accessories. FGI markets products under brands that include Foremost, Jetcoat and Bootz, serving customers across North America and other international markets.

The company traces its roots to 1987 and operates as part of a vertically integrated supply network that combines product design, sourcing, manufacturing and distribution.