Royal Bank Of Canada Reaffirms Buy Rating for Foundation Building Materials, Inc. (FBM)
Foundation Building Materials, Inc. (NYSE:FBM)‘s stock had its “buy” rating restated by analysts at Royal Bank Of Canada in a research report issued to clients and investors on Wednesday. They currently have a $15.00 price target on the stock. Royal Bank Of Canada’s target price points to a potential upside of 12.44% from the company’s current price.
A number of other research firms have also recently commented on FBM. Barclays PLC cut their price target on shares of Foundation Building Materials from $19.00 to $17.00 and set an “overweight” rating on the stock in a report on Friday, August 4th. Zacks Investment Research upgraded shares of Foundation Building Materials from a “sell” rating to a “hold” rating in a report on Wednesday, August 30th. Finally, Deutsche Bank AG dropped their target price on shares of Foundation Building Materials from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, August 9th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $18.43.
Shares of Foundation Building Materials (FBM) traded down 1.04% on Wednesday, reaching $13.34. 241,212 shares of the company were exchanged. Foundation Building Materials has a 52 week low of $11.03 and a 52 week high of $17.91. The company’s 50-day moving average is $12.14 and its 200-day moving average is $14.24. The company’s market capitalization is $571.82 million.
Foundation Building Materials (NYSE:FBM) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.11. The firm had revenue of $529.20 million for the quarter, compared to analysts’ expectations of $536.72 million. The company’s revenue was up 95.9% compared to the same quarter last year. On average, equities analysts expect that Foundation Building Materials will post $0.31 EPS for the current fiscal year.
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A number of institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. bought a new position in Foundation Building Materials during the 1st quarter worth about $31,986,000. American Century Companies Inc. grew its holdings in Foundation Building Materials by 72.9% during the 2nd quarter. American Century Companies Inc. now owns 1,092,729 shares of the company’s stock worth $14,052,000 after acquiring an additional 460,583 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in Foundation Building Materials during the 1st quarter worth about $11,163,000. Neuberger Berman Group LLC bought a new position in Foundation Building Materials during the 1st quarter worth about $10,117,000. Finally, Principal Financial Group Inc. bought a new position in Foundation Building Materials during the 1st quarter worth about $9,582,000. Institutional investors own 92.08% of the company’s stock.
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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