Foundation Building Materials (NYSE:FBM) has been given a $19.00 target price by Barclays in a research note issued on Sunday. The firm presently has a “buy” rating on the stock. Barclays’ price target indicates a potential upside of 18.23% from the stock’s previous close.
Several other research firms also recently weighed in on FBM. Robert W. Baird reiterated a “hold” rating and set a $16.00 price target on shares of Foundation Building Materials in a research note on Friday, November 10th. Royal Bank of Canada boosted their price target on Foundation Building Materials from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, November 8th. Finally, Zacks Investment Research upgraded Foundation Building Materials from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 13th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $18.71.
Foundation Building Materials (NYSE FBM) traded up $0.43 during trading on Friday, reaching $16.07. The company’s stock had a trading volume of 283,100 shares, compared to its average volume of 150,800. The company has a current ratio of 2.63, a quick ratio of 1.82 and a debt-to-equity ratio of 2.02. The stock has a market cap of $688.85 and a P/E ratio of -133.92. Foundation Building Materials has a twelve month low of $11.03 and a twelve month high of $17.91.
Foundation Building Materials (NYSE:FBM) last posted its quarterly earnings results on Tuesday, November 7th. The company reported $0.08 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.08. The business had revenue of $535.40 million for the quarter, compared to the consensus estimate 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 business’s revenue was up 28.8% on a year-over-year basis. analysts expect that Foundation Building Materials will post 0.17 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of the company. Alyeska Investment Group L.P. boosted its stake in shares of Foundation Building Materials by 47.0% in the third quarter. Alyeska Investment Group L.P. now owns 1,356,013 shares of the company’s stock worth $19,174,000 after buying an additional 433,700 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Foundation Building Materials by 15.0% in the third quarter. American Century Companies Inc. now owns 1,256,424 shares of the company’s stock worth $17,766,000 after buying an additional 163,695 shares during the last quarter. Citadel Advisors LLC boosted its stake in shares of Foundation Building Materials by 28.0% in the third quarter. Citadel Advisors LLC now owns 578,666 shares of the company’s stock worth $8,182,000 after buying an additional 126,474 shares during the last quarter. Elk Creek Partners LLC boosted its stake in shares of Foundation Building Materials by 7.3% in the third quarter. Elk Creek Partners LLC now owns 576,205 shares of the company’s stock worth $8,148,000 after buying an additional 39,403 shares during the last quarter. Finally, Paradigm Capital Management Inc. NY purchased a new stake in shares of Foundation Building Materials in the third quarter worth about $5,178,000. Hedge funds and other institutional investors own 94.94% 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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