Foundation Building Materials Inc (NYSE:FBM) has been assigned a consensus rating of “Buy” from the ten ratings firms that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $18.43.
A number of analysts have recently commented on the company. Citigroup raised their price objective on Foundation Building Materials from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Royal Bank of Canada raised their price objective 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 upgraded Foundation Building Materials from a “sell” rating to a “hold” rating in a research report on Tuesday. Robert W. Baird restated a “hold” rating and set a $15.00 price objective on shares of Foundation Building Materials in a research report on Monday, October 9th. Finally, Barclays set a $19.00 price objective on Foundation Building Materials and gave the stock a “buy” rating in a research report on Sunday, January 7th.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FBM. SG Capital Management LLC purchased a new position in shares of Foundation Building Materials during the fourth quarter valued at approximately $2,442,000. Strs Ohio boosted its position in Foundation Building Materials by 281.2% in the fourth quarter. Strs Ohio now owns 44,600 shares of the company’s stock worth $659,000 after purchasing an additional 32,900 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Foundation Building Materials in the fourth quarter worth $294,000. Bank of Montreal Can purchased a new position in Foundation Building Materials in the fourth quarter worth $134,000. Finally, Point72 Asset Management L.P. boosted its position in Foundation Building Materials by 44.6% in the third quarter. Point72 Asset Management L.P. now owns 317,464 shares of the company’s stock worth $4,489,000 after purchasing an additional 97,898 shares during the last quarter. Hedge funds and other institutional investors own 95.08% of the company’s stock.
Foundation Building Materials (NYSE:FBM) last released its quarterly earnings data on Tuesday, November 7th. The company reported $0.08 earnings per share for the quarter, meeting the consensus estimate of $0.08. The business had revenue of $535.40 million for the quarter, compared to analyst estimates of $535.81 million. Foundation Building Materials had a negative return on equity of 2.98% and a negative net margin of 0.11%. The firm’s revenue for the quarter was up 28.8% compared to the same quarter last year. research analysts anticipate that Foundation Building Materials will post 0.16 earnings per share 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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