Foundation Building Materials (NYSE:FBM) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Thursday.
A number of other equities analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Foundation Building Materials from a “hold” rating to a “sell” rating in a report on Wednesday, October 10th. Barclays cut their price target on shares of Foundation Building Materials from $18.00 to $17.00 and set a “buy” rating for the company in a report on Monday, August 13th. Evercore ISI began coverage on shares of Foundation Building Materials in a report on Thursday, June 28th. They issued an “in-line” rating and a $17.00 price target for the company. Finally, Deutsche Bank increased their price target on shares of Foundation Building Materials from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, June 25th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. Foundation Building Materials currently has an average rating of “Buy” and a consensus target price of $17.63.
Shares of FBM opened at $10.94 on Thursday. The company has a quick ratio of 1.60, a current ratio of 2.41 and a debt-to-equity ratio of 1.66. The stock has a market capitalization of $487.70 million, a PE ratio of 36.50 and a beta of 0.25. Foundation Building Materials has a 52-week low of $10.75 and a 52-week high of $16.40.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Citigroup Inc. grew its stake in Foundation Building Materials by 254.0% in the 1st quarter. Citigroup Inc. now owns 7,189 shares of the company’s stock valued at $107,000 after acquiring an additional 5,158 shares during the last quarter. Bank of Montreal Can acquired a new stake in Foundation Building Materials in the 2nd quarter valued at about $174,000. CIBC World Markets Inc. acquired a new stake in Foundation Building Materials in the 2nd quarter valued at about $179,000. Globeflex Capital L P acquired a new stake in Foundation Building Materials in the 2nd quarter valued at about $193,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Foundation Building Materials in the 1st quarter valued at about $260,000. 93.19% of the stock is currently owned by hedge funds and other institutional investors.
Foundation Building Materials Company Profile
Foundation Building Materials, Inc distributes building products in the United States and Canada. It operates through two segments, Specialty Building Products and Mechanical Insulation. The Specialty Building Products segment distributes wallboard, metal framing, suspended ceiling system, and other products.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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