Foundation Building Materials Inc (NYSE:FBM) has earned a consensus recommendation of “Buy” from the seven ratings firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $19.40.
FBM has been the subject of a number of research analyst reports. Zacks Investment Research raised Foundation Building Materials from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research note on Friday, November 8th. Barclays reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Foundation Building Materials in a research report on Wednesday, November 6th. ValuEngine upgraded Foundation Building Materials from a “sell” rating to a “hold” rating in a research note on Tuesday, October 8th. Evercore ISI upgraded Foundation Building Materials from an “in-line” rating to an “outperform” rating and set a $21.00 target price for the company in a research report on Wednesday, October 16th. Finally, Bank of America began coverage on shares of Foundation Building Materials in a research note on Friday, October 11th. They set a “buy” rating and a $20.00 target price for the company.
In other Foundation Building Materials news, major shareholder John P. Grayken sold 4,750,000 shares of Foundation Building Materials stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $16.28, for a total transaction of $77,330,000.00. Also, major shareholder John P. Grayken sold 712,500 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $18.13, for a total value of $12,917,625.00. Company insiders own 0.84% of the company’s stock.
Several institutional investors have recently made changes to their positions in FBM. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Foundation Building Materials in the second quarter worth approximately $26,000. Quantamental Technologies LLC bought a new position in shares of Foundation Building Materials in the 2nd quarter worth $36,000. Aperio Group LLC purchased a new stake in shares of Foundation Building Materials during the 2nd quarter worth $38,000. Tower Research Capital LLC TRC purchased a new stake in shares of Foundation Building Materials during the 3rd quarter worth $37,000. Finally, Metropolitan Life Insurance Co NY purchased a new stake in shares of Foundation Building Materials during the 3rd quarter worth $80,000. Hedge funds and other institutional investors own 94.87% of the company’s stock.
Foundation Building Materials stock traded down $0.61 during midday trading on Friday, reaching $20.15. The stock had a trading volume of 439,877 shares, compared to its average volume of 257,574. The company has a quick ratio of 1.48, a current ratio of 2.09 and a debt-to-equity ratio of 1.68. The firm has a market cap of $892.47 million, a price-to-earnings ratio of 57.57, a price-to-earnings-growth ratio of 0.42 and a beta of 1.52. Foundation Building Materials has a 52-week low of $7.62 and a 52-week high of $22.14. The company has a fifty day moving average of $19.95 and a 200 day moving average of $17.56.
Foundation Building Materials (NYSE:FBM) last announced its earnings results on Monday, November 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.06. The business had revenue of $564.90 million during the quarter, compared to analyst estimates of $576.12 million. Foundation Building Materials had a return on equity of 10.31% and a net margin of 2.28%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.19 earnings per share. Equities research analysts predict that Foundation Building Materials will post 0.89 EPS for the current year.
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.
Recommended Story: How to calculate the intrinsic value of a stock
Receive News & Ratings for Foundation Building Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Foundation Building Materials and related companies with MarketBeat.com's FREE daily email newsletter.