Foundation Building Materials (FBM) PT Raised to $18.00

Foundation Building Materials (NYSE:FBM) had its price objective raised by analysts at Citigroup from $17.00 to $18.00 in a note issued to investors on Thursday. The firm presently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 13.78% from the stock’s previous close.

Several other analysts have also recently issued reports on the company. Royal Bank of Canada increased their target price on Foundation Building Materials from $15.00 to $17.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 8th. Zacks Investment Research cut Foundation Building Materials from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Barclays set a $19.00 target price on Foundation Building Materials and gave the stock a “buy” rating in a research report on Sunday, January 7th. Finally, Robert W. Baird reiterated a “hold” rating and set a $16.00 target price on shares of Foundation Building Materials in a research report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. Foundation Building Materials currently has a consensus rating of “Buy” and an average price target of $18.43.

Foundation Building Materials (NYSE FBM) traded up $0.19 during trading hours on Thursday, hitting $15.82. The company had a trading volume of 52,947 shares, compared to its average volume of 87,170. The company has a debt-to-equity ratio of 2.02, a current ratio of 2.63 and a quick ratio of 1.82. Foundation Building Materials has a 12-month low of $11.03 and a 12-month high of $17.91. The stock has a market capitalization of $669.99 and a PE ratio of -131.83.

Foundation Building Materials (NYSE:FBM) last released its earnings results on Tuesday, November 7th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting the 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 firm had revenue of $535.40 million during the quarter, compared to analysts’ expectations of $535.81 million. The business’s quarterly revenue was up 28.8% compared to the same quarter last year. research analysts predict that Foundation Building Materials will post 0.17 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can purchased a new position in Foundation Building Materials during the 4th quarter valued at approximately $134,000. Virtu KCG Holdings LLC purchased a new position in Foundation Building Materials during the 2nd quarter valued at approximately $129,000. The Manufacturers Life Insurance Company purchased a new position in Foundation Building Materials during the 2nd quarter valued at approximately $143,000. Strs Ohio purchased a new position in Foundation Building Materials during the 3rd quarter valued at approximately $165,000. Finally, Rhumbline Advisers purchased a new position in Foundation Building Materials during the 2nd quarter valued at approximately $175,000. Institutional investors and hedge funds own 94.95% of the company’s stock.

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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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