Barclays PLC Trims Foundation Building Materials, Inc. (FBM) Target Price to $17.00
Foundation Building Materials, Inc. (NYSE:FBM) had its price objective lowered by research analysts at Barclays PLC from $19.00 to $17.00 in a report issued on Friday. The brokerage presently has an “overweight” rating on the stock. Barclays PLC’s price target would indicate a potential upside of 43.22% from the stock’s current price.
A number of other analysts have also weighed in on FBM. Royal Bank Of Canada reduced their price objective on shares of Foundation Building Materials from $20.00 to $15.00 and set an “outperform” rating on the stock in a research report on Friday. Zacks Investment Research lowered shares of Foundation Building Materials from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $18.86.
Shares of Foundation Building Materials (FBM) traded up 0.08% on Friday, reaching $11.87. The company had a trading volume of 274,317 shares. The firm’s market capitalization is $508.81 million. The stock’s 50 day moving average is $12.76 and its 200 day moving average is $14.77. Foundation Building Materials has a 52 week low of $11.12 and a 52 week high of $17.91.
Foundation Building Materials (NYSE:FBM) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.11. The company had revenue of $529.20 million for the quarter, compared to the consensus estimate of $536.72 million. The business’s revenue for the quarter was up 95.9% compared to the same quarter last year. On average, equities analysts anticipate that Foundation Building Materials will post $0.41 EPS for the current year.
In related news, CFO John Gorey bought 10,000 shares of Foundation Building Materials stock in a transaction dated Thursday, May 18th. The shares were acquired at an average cost of $14.49 per share, with a total value of $144,900.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ruben Mendoza bought 14,000 shares of Foundation Building Materials stock in a transaction dated Friday, May 26th. The shares were bought at an average cost of $13.98 per share, for a total transaction of $195,720.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 56,528 shares of company stock worth $846,016.
Institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. bought a new position in shares of Foundation Building Materials during the first quarter worth approximately $9,582,000. Spark Investment Management LLC bought a new position in shares of Foundation Building Materials during the first quarter worth approximately $1,577,000. Neuberger Berman Group LLC bought a new position in shares of Foundation Building Materials during the first quarter worth approximately $10,117,000. JPMorgan Chase & Co. bought a new position in shares of Foundation Building Materials during the first quarter worth approximately $133,000. Finally, Oxford Asset Management bought a new position in shares of Foundation Building Materials during the first quarter worth approximately $2,108,000. 91.01% of the stock is currently owned by institutional investors and hedge funds.
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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