Separately, Zacks Investment Research raised shares of Foundation Building Materials from a hold rating to a buy rating and set a $17.00 target price on the stock in a research report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $14.50.
Shares of FBM opened at $17.10 on Tuesday. Foundation Building Materials has a 1-year low of $7.62 and a 1-year high of $19.74. The company has a 50-day moving average of $16.91 and a 200 day moving average of $15.65. The firm has a market capitalization of $735.13 million, a price-to-earnings ratio of 48.86 and a beta of 1.44. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.98 and a quick ratio of 1.38.
Foundation Building Materials (NYSE:FBM) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.12. The company had revenue of $559.91 million during the quarter, compared to analyst estimates of $574.68 million. Foundation Building Materials had a net margin of 0.08% and a return on equity of 9.30%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the business posted $0.08 EPS. On average, equities analysts anticipate that Foundation Building Materials will post 0.85 earnings per share for the current fiscal year.
In other Foundation Building Materials news, major shareholder John P. Grayken sold 4,750,000 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $16.28, for a total transaction of $77,330,000.00. Company insiders own 0.84% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its position in Foundation Building Materials by 65.8% during the 2nd quarter. BlackRock Inc. now owns 1,495,052 shares of the company’s stock valued at $26,583,000 after purchasing an additional 593,221 shares during the period. Renaissance Technologies LLC grew its position in shares of Foundation Building Materials by 736.5% in the 2nd quarter. Renaissance Technologies LLC now owns 536,188 shares of the company’s stock worth $9,533,000 after buying an additional 472,088 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Foundation Building Materials by 42.5% in the 2nd quarter. Acadian Asset Management LLC now owns 399,638 shares of the company’s stock worth $7,106,000 after buying an additional 119,156 shares during the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Foundation Building Materials in the 2nd quarter worth approximately $6,105,000. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Foundation Building Materials by 13.3% in the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 197,234 shares of the company’s stock worth $3,507,000 after buying an additional 23,150 shares during the last quarter. 90.34% of the stock is currently owned by institutional investors and hedge funds.
Foundation Building Materials Company Profile
Foundation Building Materials, Inc distributes building products in the United States and Canada. It offers wallboard, suspended ceiling system, and metal framing products. The company also provides complementary and other products, tools, and accessories, such as wallboard accessories, stucco and finishing systems, safety accessories, fasteners, insulations, doors, and roofing products.
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