Equities analysts predict that Foundation Building Materials, Inc. (NYSE:FBM) will report $537.82 million in sales for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Foundation Building Materials’ earnings, with estimates ranging from $522.60 million to $546.20 million. The firm is expected to announce its next quarterly earnings results on Tuesday, August 8th.

According to Zacks, analysts expect that Foundation Building Materials will report full-year sales of $537.82 million for the current fiscal year, with estimates ranging from $2.05 billion to $2.12 billion. For the next year, analysts anticipate that the company will post sales of $2.26 billion per share, with estimates ranging from $2.15 billion to $2.37 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Foundation Building Materials.

Foundation Building Materials (NYSE:FBM) last posted its earnings results on Monday, March 27th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by $0.02. The business had revenue of $469.60 million during the quarter, compared to the consensus estimate of $466.73 million. The company’s revenue was up 143.9% compared to the same quarter last year.

FBM has been the topic of several research reports. Robert W. Baird initiated coverage on Foundation Building Materials in a research note on Tuesday, March 7th. They set a “neutral” rating and a $18.00 price target on the stock. Royal Bank Of Canada initiated coverage on Foundation Building Materials in a research note on Tuesday, March 7th. They issued an “outperform” rating and a $20.00 target price on the stock. Barclays PLC initiated coverage on Foundation Building Materials in a research note on Tuesday, March 7th. They issued an “overweight” rating and a $19.00 target price on the stock. Citigroup Inc. began coverage on Foundation Building Materials in a research note on Tuesday, March 7th. They issued a “buy” rating and a $20.00 target price on the stock. Finally, SunTrust Banks, Inc. began coverage on Foundation Building Materials in a research report on Tuesday, March 7th. They set a “buy” rating and a $23.00 price target on the stock. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Foundation Building Materials currently has a consensus rating of “Buy” and an average target price of $19.86.

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In other Foundation Building Materials news, insider Ruben Mendoza acquired 32,000 shares of the business’s stock in a transaction dated Friday, May 12th. The stock was bought at an average cost of $15.56 per share, with a total value of $497,920.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO John Gorey acquired 10,000 shares of the business’s stock in a transaction dated Thursday, May 18th. The stock was acquired at an average cost 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 bought 56,528 shares of company stock valued at $846,016.

A number of hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. purchased a new stake in Foundation Building Materials during the first quarter valued at $31,986,000. Massachusetts Financial Services Co. MA purchased a new stake in Foundation Building Materials during the first quarter valued at $11,163,000. Neuberger Berman Group LLC purchased a new stake in Foundation Building Materials during the first quarter valued at $10,117,000. American Century Companies Inc. purchased a new stake in Foundation Building Materials during the first quarter valued at $10,095,000. Finally, Principal Financial Group Inc. purchased a new stake in Foundation Building Materials during the first quarter valued at $9,582,000. 92.85% of the stock is owned by institutional investors and hedge funds.

Shares of Foundation Building Materials (FBM) opened at 14.25 on Thursday. The company’s market capitalization is $610.83 million. The company’s 50 day moving average is $14.89 and its 200-day moving average is $15.59. Foundation Building Materials has a 52 week low of $13.45 and a 52 week high of $17.91.

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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