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.
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.
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