Foundation Building Materials, Inc. (FBM) Earns Buy Rating from Royal Bank Of Canada

Royal Bank Of Canada reiterated their buy rating on shares of Foundation Building Materials, Inc. (NYSE:FBM) in a research report released on Tuesday morning. They currently have a $15.00 price objective on the stock.

Several other analysts have also recently issued reports on FBM. Zacks Investment Research cut shares of Foundation Building Materials from a hold rating to a sell rating in a research note on Thursday, July 13th. Barclays PLC lowered their price objective on shares of Foundation Building Materials from $19.00 to $17.00 and set an overweight rating on the stock in a research report on Friday, August 4th. Deutsche Bank AG lowered their price objective on shares of Foundation Building Materials from $19.00 to $16.00 and set a buy rating on the stock in a research report on Wednesday, August 9th. Finally, Robert W. Baird restated a hold rating and set a $15.00 price objective on shares of Foundation Building Materials in a research report on Monday. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of Buy and an average target price of $18.00.

Shares of Foundation Building Materials (FBM) traded up 2.03% on Tuesday, reaching $13.56. 57,737 shares of the company’s stock traded hands. The company’s 50-day moving average price is $13.71 and its 200 day moving average price is $13.71. Foundation Building Materials has a one year low of $12.32 and a one year high of $17.61. The firm’s market cap is $581.25 million.

Foundation Building Materials (NYSE:FBM) last posted its earnings results on Thursday, August 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.11). The business had revenue of $529.20 million for the quarter, compared to analyst estimates of $536.72 million. The business’s revenue was up 95.9% compared to the same quarter last year. On average, equities analysts forecast that Foundation Building Materials will post $0.28 EPS for the current fiscal year.

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Several institutional investors have recently bought and sold shares of FBM. Russell Investments Group Ltd. purchased a new stake in shares of Foundation Building Materials during the 1st quarter valued at $2,385,000. Wells Fargo & Company MN purchased a new stake in shares of Foundation Building Materials during the 1st quarter valued at $261,000. Bank of New York Mellon Corp purchased a new stake in shares of Foundation Building Materials during the 1st quarter valued at $519,000. Sei Investments Co. purchased a new stake in shares of Foundation Building Materials during the 1st quarter valued at $521,000. Finally, Parametric Portfolio Associates LLC purchased a new stake in shares of Foundation Building Materials during the 1st quarter valued at $1,256,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

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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