Foundation Building Materials (FBM) Upgraded at Zacks Investment Research

Foundation Building Materials (NYSE:FBM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The brokerage currently has a $17.00 price objective on the stock. Zacks Investment Research‘s price target points to a potential upside of 6.65% from the company’s previous close.

According to Zacks, “Foundation Building Materials, Inc. is a specialty distributor of wallboard and suspended ceiling systems primarily in U.S. and Canada. The Company’s segments include Specialty Building Products and Mechanical Insulation. Specialty building products segment distributes wallboard and accessories, metal framing, suspended ceiling systems and other products. Mechanical insulation segment includes insulation solutions for pipes and mechanical systems. Foundation Building Materials, Inc. is based in Tustin, California. “

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A number of other research firms have also commented on FBM. Robert W. Baird restated a “hold” rating and issued a $16.00 price objective on shares of Foundation Building Materials in a research report on Friday, November 10th. Royal Bank of Canada raised their price objective on shares of Foundation Building Materials from $15.00 to $17.00 and gave the company an “outperform” rating in a research report on Wednesday, November 8th. Raymond James Financial upgraded shares of Foundation Building Materials from an “outperform” rating to a “strong-buy” rating and set a $20.00 price objective for the company in a research report on Thursday, February 8th. UBS Group upgraded shares of Foundation Building Materials from an “outperform” rating to a “strong-buy” rating in a research report on Thursday, February 8th. Finally, Citigroup lifted their target price on shares of Foundation Building Materials from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $17.57.

Foundation Building Materials (NYSE FBM) opened at $15.94 on Thursday. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.26 and a quick ratio of 1.50. Foundation Building Materials has a 1 year low of $11.03 and a 1 year high of $17.91. The company has a market cap of $665.70 and a P/E ratio of 8.17.

Foundation Building Materials (NYSE:FBM) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.17. Foundation Building Materials had a net margin of 4.00% and a return on equity of 2.44%. The company had revenue of $516.77 million during the quarter, compared to analyst estimates of $513.28 million. During the same period last year, the business earned ($0.09) earnings per share. Foundation Building Materials’s revenue was up 11.8% compared to the same quarter last year. analysts predict that Foundation Building Materials will post 0.55 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the business. Sei Investments Co. lifted its position in Foundation Building Materials by 13.0% during 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 during the last quarter. Teachers Advisors LLC lifted its position in Foundation Building Materials by 51.1% during 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 during the last quarter. Swiss National Bank lifted its position in Foundation Building Materials by 31.6% during the fourth quarter. Swiss National Bank now owns 32,900 shares of the company’s stock valued at $487,000 after purchasing an additional 7,900 shares during the last quarter. Wells Fargo & Company MN lifted its position in Foundation Building Materials by 32.8% during the fourth quarter. Wells Fargo & Company MN now owns 36,071 shares of the company’s stock valued at $533,000 after purchasing an additional 8,907 shares during the last quarter. Finally, Bank of Montreal Can bought a new stake in Foundation Building Materials during the fourth quarter valued at approximately $134,000. Institutional investors and hedge funds own 93.02% 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.

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