Foundation Building Materials (NYSE:FBM) had its price target raised by equities research analysts at Deutsche Bank from $17.00 to $18.00 in a report issued on Monday. The brokerage currently has a “buy” rating on the stock. Deutsche Bank’s target price indicates a potential upside of 10.50% from the stock’s previous close.
A number of other research analysts have also commented on the stock. Zacks Investment Research upgraded shares of Foundation Building Materials from a “sell” rating to a “hold” rating in a research report on Friday, May 11th. Barclays set a $18.00 price target on shares of Foundation Building Materials and gave the company a “buy” rating in a research report on Thursday, May 10th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $17.71.
Foundation Building Materials opened at $16.29 on Monday, according to Marketbeat Ratings. The firm has a market cap of $677.29 million, a PE ratio of 54.30 and a beta of 0.53. The company has a quick ratio of 1.65, a current ratio of 2.48 and a debt-to-equity ratio of 1.66. Foundation Building Materials has a one year low of $11.03 and a one year high of $16.40.
Foundation Building Materials (NYSE:FBM) last released its quarterly earnings results on Wednesday, May 9th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. The firm had revenue of $536.30 million during the quarter, compared to analyst estimates of $533.99 million. Foundation Building Materials had a net margin of 3.66% and a return on equity of 3.74%. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.02) EPS. sell-side analysts forecast that Foundation Building Materials will post 0.56 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Citigroup Inc. lifted its holdings in shares of Foundation Building Materials by 254.0% during the 1st quarter. Citigroup Inc. now owns 7,189 shares of the company’s stock worth $107,000 after acquiring an additional 5,158 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of Foundation Building Materials during the 4th quarter worth $134,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Foundation Building Materials during the 1st quarter worth $260,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in shares of Foundation Building Materials during the 1st quarter worth $268,000. Finally, Engineers Gate Manager LP bought a new stake in shares of Foundation Building Materials during the 1st quarter worth $277,000. 92.71% of the stock is owned by institutional investors.
About Foundation Building Materials
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.
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