Shares of Foundation Building Materials, Inc. (NYSE:FBM) have been given an average recommendation of “Buy” by the ten research firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $18.00.

Several equities analysts have issued reports on the company. Robert W. Baird reissued a “hold” rating and issued a $15.00 price target on shares of Foundation Building Materials in a research note on Monday, October 9th. Royal Bank Of Canada restated a “buy” rating and set a $15.00 price objective on shares of Foundation Building Materials in a report on Tuesday, October 10th. Zacks Investment Research downgraded Foundation Building Materials from a “hold” rating to a “sell” rating in a report on Monday, September 25th. Barclays PLC decreased their price objective on Foundation Building Materials from $19.00 to $17.00 and set an “overweight” rating for the company in a report on Friday, August 4th. Finally, Deutsche Bank AG decreased their price objective on Foundation Building Materials from $19.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, August 9th.

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Shares of Foundation Building Materials (FBM) opened at 13.35 on Wednesday. The company’s market capitalization is $572.25 million. The company’s 50-day moving average price is $13.59 and its 200-day moving average price is $13.61. Foundation Building Materials has a 1-year low of $11.03 and a 1-year high of $17.91.

Foundation Building Materials (NYSE:FBM) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.11). The business had revenue of $529.20 million during the quarter, compared to analysts’ expectations of $536.72 million. The company’s revenue for the quarter was up 95.9% compared to the same quarter last year. On average, equities analysts expect that Foundation Building Materials will post $0.30 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC increased its holdings in shares of Foundation Building Materials by 9.2% during the second quarter. Cubist Systematic Strategies LLC now owns 20,223 shares of the company’s stock valued at $260,000 after acquiring an additional 1,710 shares in the last quarter. Teachers Advisors LLC increased its holdings in shares of Foundation Building Materials by 51.1% during the second quarter. Teachers Advisors LLC now owns 22,477 shares of the company’s stock valued at $289,000 after acquiring an additional 7,601 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in shares of Foundation Building Materials during the first quarter valued at approximately $133,000. Wells Fargo & Company MN increased its holdings in shares of Foundation Building Materials by 58.0% during the second quarter. Wells Fargo & Company MN now owns 25,870 shares of the company’s stock valued at $333,000 after acquiring an additional 9,500 shares in the last quarter. Finally, Virtu KCG Holdings LLC bought a new stake in shares of Foundation Building Materials during the second quarter valued at approximately $129,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

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.

Analyst Recommendations for Foundation Building Materials (NYSE:FBM)

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