Foundation Building Materials, Inc. (NYSE:FBM) had its price objective dropped by analysts at Deutsche Bank AG from $19.00 to $16.00 in a report issued on Wednesday, August 9th. The brokerage presently has a “buy” rating on the stock. Deutsche Bank AG’s price target would indicate a potential upside of 41.84% from the stock’s previous close.
Several other equities research analysts have also recently weighed in on FBM. Zacks Investment Research cut shares of Foundation Building Materials from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. Royal Bank Of Canada cut their target price on shares of Foundation Building Materials from $20.00 to $15.00 and set an “outperform” rating on the stock in a research note on Friday, August 4th. Finally, Barclays PLC cut their target price on shares of Foundation Building Materials from $19.00 to $17.00 and set an “overweight” rating on the stock in a research note on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $18.43.
Shares of Foundation Building Materials (NYSE FBM) traded down 3.67% during trading on Wednesday, hitting $11.28. 170,759 shares of the stock were exchanged. The firm’s 50 day moving average price is $12.01 and its 200-day moving average price is $14.47. Foundation Building Materials has a 52 week low of $11.12 and a 52 week high of $17.91. The stock’s market cap is $483.52 million.
Foundation Building Materials (NYSE:FBM) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.11. The firm had revenue of $529.20 million for the quarter, compared to the consensus estimate of $536.72 million. The firm’s revenue was up 95.9% compared to the same quarter last year. On average, analysts predict that Foundation Building Materials will post $0.28 EPS for the current year.
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In related news, insider Ruben Mendoza bought 14,000 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The shares were acquired at an average cost of $13.98 per share, with a total value of $195,720.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. acquired a new position in Foundation Building Materials during the first quarter worth $31,986,000. Massachusetts Financial Services Co. MA acquired a new position in Foundation Building Materials during the first quarter worth $11,163,000. Neuberger Berman Group LLC acquired a new position in Foundation Building Materials during the first quarter worth $10,117,000. American Century Companies Inc. acquired a new position in Foundation Building Materials during the first quarter worth $10,095,000. Finally, Principal Financial Group Inc. acquired a new position in Foundation Building Materials during the first quarter worth $9,582,000. 90.00% of the stock is currently owned by hedge funds and other institutional investors.
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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