Credit Suisse Group initiated coverage on shares of Foundation Building Materials (NYSE:FBM) in a research note released on Friday morning, MarketBeat.com reports. The brokerage issued a neutral rating and a $9.00 price target on the stock.
FBM has been the subject of several other research reports. TheStreet downgraded shares of Foundation Building Materials from a c- rating to a d+ rating in a report on Thursday, October 25th. Zacks Investment Research raised shares of Foundation Building Materials from a sell rating to a hold rating in a report on Wednesday, November 28th. ValuEngine downgraded shares of Foundation Building Materials from a hold rating to a sell rating in a report on Thursday, October 18th. Finally, Barclays set a $15.00 price objective on shares of Foundation Building Materials and gave the stock a buy rating in a report on Saturday, November 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $15.86.
Shares of FBM opened at $9.38 on Friday. Foundation Building Materials has a 1 year low of $7.62 and a 1 year high of $16.32. The firm has a market cap of $418.23 million, a PE ratio of 31.27 and a beta of 1.35. The company has a debt-to-equity ratio of 2.14, a current ratio of 2.86 and a quick ratio of 2.19.
Hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC lifted its holdings in Foundation Building Materials by 216.4% in the third quarter. Tower Research Capital LLC TRC now owns 9,788 shares of the company’s stock worth $122,000 after purchasing an additional 6,694 shares during the period. Meeder Asset Management Inc. lifted its holdings in Foundation Building Materials by 3,253.6% in the third quarter. Meeder Asset Management Inc. now owns 11,570 shares of the company’s stock worth $145,000 after purchasing an additional 11,225 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Foundation Building Materials in the third quarter worth about $162,000. AQR Capital Management LLC acquired a new stake in Foundation Building Materials in the third quarter worth about $249,000. Finally, Macquarie Group Ltd. lifted its holdings in Foundation Building Materials by 34.0% in the third quarter. Macquarie Group Ltd. now owns 26,383 shares of the company’s stock worth $329,000 after purchasing an additional 6,700 shares during the period. 91.79% of the stock is owned by institutional investors and hedge funds.
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.
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