Foundation Building Materials (FBM) Stock Rating Upgraded by Raymond James Financial

Foundation Building Materials (NYSE:FBM) was upgraded by analysts at Raymond James Financial from an “outperform” rating to a “strong-buy” rating in a research note issued to investors on Thursday. The brokerage currently has a $20.00 price objective on the stock. Raymond James Financial’s price target points to a potential upside of 40.25% from the company’s previous close.

A number of other equities analysts have also commented on the stock. Zacks Investment Research lowered shares of Foundation Building Materials from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Barclays set a $19.00 price objective on shares of Foundation Building Materials and gave the company a “buy” rating in a research note on Sunday, January 7th. Royal Bank of Canada upped their price objective on shares of Foundation Building Materials from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, November 8th. Robert W. Baird reaffirmed a “hold” rating and issued a $16.00 price objective on shares of Foundation Building Materials in a research note on Friday, November 10th. Finally, Citigroup upped their price objective on shares of Foundation Building Materials from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. Foundation Building Materials has an average rating of “Buy” and a consensus price target of $18.43.

Foundation Building Materials (FBM) opened at $14.26 on Thursday. The company has a market cap of $608.69 and a price-to-earnings ratio of -118.83. Foundation Building Materials has a twelve month low of $11.03 and a twelve month high of $17.91. The company has a quick ratio of 1.82, a current ratio of 2.63 and a debt-to-equity ratio of 2.02.

Foundation Building Materials (NYSE:FBM) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $0.08 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.08. The firm had revenue of $535.40 million for the quarter, compared to analyst estimates of $535.81 million. Foundation Building Materials had a negative net margin of 0.11% and a negative return on equity of 2.98%. The company’s revenue was up 28.8% compared to the same quarter last year. equities research analysts expect that Foundation Building Materials will post 0.16 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC boosted its stake in shares of Foundation Building Materials by 9.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 20,223 shares of the company’s stock valued at $260,000 after purchasing an additional 1,710 shares in the last quarter. Sei Investments Co. boosted its position in Foundation Building Materials by 13.0% during the 3rd quarter. Sei Investments Co. now owns 61,587 shares of the company’s stock valued at $871,000 after buying an additional 7,066 shares during the period. Teachers Advisors LLC boosted its position in Foundation Building Materials by 51.1% during the 2nd quarter. Teachers Advisors LLC now owns 22,477 shares of the company’s stock valued at $289,000 after buying an additional 7,601 shares during the period. Swiss National Bank boosted its position in Foundation Building Materials by 31.6% during the 4th quarter. Swiss National Bank now owns 32,900 shares of the company’s stock valued at $487,000 after buying an additional 7,900 shares during the period. Finally, Bank of Montreal Can purchased a new stake in Foundation Building Materials during the 4th quarter valued at $134,000. 95.47% of the stock is owned by institutional investors.

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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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