Foundation Building Materials (FBM) Upgraded to “Strong-Buy” at UBS Group

Foundation Building Materials (NYSE:FBM) was upgraded by stock analysts at UBS Group from an “outperform” rating to a “strong-buy” rating in a note issued to investors on Thursday, The Fly reports.

A number of other equities research analysts have also recently issued reports on the stock. Royal Bank of Canada increased their target price on shares of Foundation Building Materials from $15.00 to $17.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 8th. 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. Zacks Investment Research upgraded shares of Foundation Building Materials from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 13th. Barclays set a $19.00 target price on shares of Foundation Building Materials and gave the stock a “buy” rating in a research report on Sunday, January 7th. Finally, Citigroup increased their target price on shares of Foundation Building Materials from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $18.43.

Shares of Foundation Building Materials (FBM) traded down $0.23 during mid-day trading on Thursday, hitting $13.92. 175,853 shares of the stock were exchanged, compared to its average volume of 78,149. Foundation Building Materials has a 52 week low of $11.03 and a 52 week high of $17.91. The firm has a market cap of $596.68 and a PE ratio of -116.00. The company has a current ratio of 2.63, a quick ratio of 1.82 and a debt-to-equity ratio of 2.02.

Several institutional investors have recently made changes to their positions in FBM. Schwab Charles Investment Management Inc. increased its position in shares of Foundation Building Materials by 100.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 49,328 shares of the company’s stock worth $635,000 after purchasing an additional 24,666 shares in the last quarter. Rhumbline Advisers bought a new stake in Foundation Building Materials during the 2nd quarter worth about $175,000. Bank of New York Mellon Corp grew its holdings in Foundation Building Materials by 40.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 45,653 shares of the company’s stock worth $587,000 after acquiring an additional 13,191 shares during the last quarter. Prudential Financial Inc. bought a new stake in Foundation Building Materials during the 2nd quarter worth about $282,000. Finally, Swiss National Bank bought a new stake in Foundation Building Materials during the 2nd quarter worth about $322,000. Institutional investors and hedge funds own 95.47% 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.

The Fly

Analyst Recommendations for Foundation Building Materials (NYSE:FBM)

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