Foundation Building Materials, Inc. (FBM) Receives Consensus Recommendation of “Buy” from Brokerages
Foundation Building Materials, Inc. (NYSE:FBM) has earned an average recommendation of “Buy” from the ten ratings firms that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $18.43.
A number of brokerages recently commented on FBM. Royal Bank of Canada reaffirmed a “buy” rating and set a $15.00 price target on shares of Foundation Building Materials in a research report on Tuesday, October 10th. Zacks Investment Research raised Foundation Building Materials from a “sell” rating to a “hold” rating in a research report on Wednesday, August 30th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $15.00 price target on shares of Foundation Building Materials in a research report on Monday, October 9th.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Prudential Financial Inc. purchased a new stake in Foundation Building Materials in the second quarter worth $282,000. TIAA CREF Investment Management LLC purchased a new stake in Foundation Building Materials in the first quarter worth $333,000. Kennedy Capital Management Inc. purchased a new stake in Foundation Building Materials in the second quarter worth $2,597,000. Swiss National Bank purchased a new stake in Foundation Building Materials in the second quarter worth $322,000. Finally, GSA Capital Partners LLP purchased a new stake in Foundation Building Materials in the second quarter worth $370,000. 94.97% of the stock is owned by institutional investors.
Foundation Building Materials (NYSE:FBM) last posted its earnings results on Tuesday, November 7th. The company reported $0.08 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.08. Foundation Building Materials had a negative return on equity of 2.98% and a negative net margin of 0.11%. The company had revenue of $535.40 million for the quarter, compared to analyst estimates of $535.81 million. The business’s quarterly revenue was up 28.8% compared to the same quarter last year. sell-side analysts predict that Foundation Building Materials will post 0.22 EPS for the current year.
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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