$537.82 Million in Sales Expected for Foundation Building Materials, Inc. (FBM) This Quarter
Equities analysts expect Foundation Building Materials, Inc. (NYSE:FBM) to report $537.82 million in sales for the current quarter, according to Zacks. Five analysts have made estimates for Foundation Building Materials’ earnings. The lowest sales estimate is $522.60 million and the highest is $546.20 million. The firm is scheduled to issue 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 year, with estimates ranging from $2.05 billion to $2.12 billion. For the next year, analysts expect that the firm will post sales of $2.26 billion per share, with estimates ranging from $2.15 billion to $2.37 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Foundation Building Materials.
Several equities analysts recently issued reports on FBM shares. Stephens started coverage on Foundation Building Materials in a research report on Tuesday, March 14th. They issued an “overweight” rating for the company. Royal Bank Of Canada reiterated a “buy” rating and issued a $20.00 price objective on shares of Foundation Building Materials in a research report on Monday, April 10th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $19.86.
Foundation Building Materials (FBM) opened at 11.97 on Friday. Foundation Building Materials has a one year low of $11.86 and a one year high of $17.91. The firm has a 50 day moving average of $14.11 and a 200 day moving average of $15.38. The firm’s market capitalization is $513.09 million.
In other news, insider Ruben Mendoza purchased 14,000 shares of Foundation Building Materials stock in a transaction on Friday, May 26th. The stock was purchased at an average price of $13.98 per share, with a total value of $195,720.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO John Gorey purchased 10,000 shares of Foundation Building Materials stock in a transaction on Thursday, May 18th. The shares were purchased 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. In the last ninety days, insiders have acquired 56,528 shares of company stock valued at $846,016.
Institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. purchased a new position in Foundation Building Materials during the first quarter worth $31,986,000. Massachusetts Financial Services Co. MA purchased a new position in Foundation Building Materials during the first quarter worth $11,163,000. Neuberger Berman Group LLC purchased a new position in Foundation Building Materials during the first quarter worth $10,117,000. American Century Companies Inc. purchased a new position in Foundation Building Materials during the first quarter worth $10,095,000. Finally, Principal Financial Group Inc. purchased a new position in Foundation Building Materials during the first quarter worth $9,582,000. 92.85% of the stock is owned by hedge funds and other institutional investors.
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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