Barclays Reiterates $19.00 Price Target for Foundation Building Materials (FBM)

Barclays set a $19.00 price target on Foundation Building Materials (NYSE:FBM) in a report issued on Sunday morning. The firm currently has a buy rating on the stock.

A number of other research analysts have also commented on FBM. Robert W. Baird reiterated a hold rating and set a $15.00 price target on shares of Foundation Building Materials in a report on Monday, October 9th. Royal Bank of Canada reiterated a buy rating and set a $15.00 price target on shares of Foundation Building Materials in a report on Tuesday, October 10th. Finally, Zacks Investment Research lowered Foundation Building Materials from a hold rating to a sell rating in a report on Monday, September 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $18.71.

Foundation Building Materials (NYSE FBM) opened at $15.51 on Friday. Foundation Building Materials has a 1-year low of $11.03 and a 1-year high of $17.91. The company has a market capitalization of $664.84 and a P/E ratio of -119.31. The company has a current ratio of 2.63, a quick ratio of 1.82 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 analysts’ consensus estimates of $0.08. Foundation Building Materials had a negative return on equity of 2.98% and a negative net margin of 0.11%. The company had revenue of $535.40 million during the quarter, compared to analyst estimates of $535.81 million. Foundation Building Materials’s revenue for the quarter was up 28.8% on a year-over-year basis. equities research analysts anticipate that Foundation Building Materials will post 0.17 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Cubist Systematic Strategies LLC raised its stake in shares of Foundation Building Materials by 9.2% in the second 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. raised its stake in shares of Foundation Building Materials by 13.0% in the third quarter. Sei Investments Co. now owns 61,587 shares of the company’s stock valued at $871,000 after purchasing an additional 7,066 shares in the last quarter. Teachers Advisors LLC raised its stake in shares of Foundation Building Materials by 51.1% in the second quarter. Teachers Advisors LLC now owns 22,477 shares of the company’s stock valued at $289,000 after purchasing an additional 7,601 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Foundation Building Materials by 58.0% in the second quarter. Wells Fargo & Company MN now owns 25,870 shares of the company’s stock valued at $333,000 after purchasing an additional 9,500 shares in the last quarter. Finally, Virtu KCG Holdings LLC acquired a new position in shares of Foundation Building Materials in the second quarter valued at $129,000. Institutional investors and hedge funds 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.

Analyst Recommendations for Foundation Building Materials (NYSE:FBM)

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