Barclays Reiterates $19.00 Price Target for Foundation Building Materials (FBM)

Barclays set a $19.00 price objective on Foundation Building Materials (NYSE:FBM) in a research note issued to investors on Sunday. The firm currently has a buy rating on the stock.

Other analysts have also recently issued reports about the company. Royal Bank of Canada upped their price target on Foundation Building Materials from $15.00 to $17.00 and gave the company an outperform rating in a research report on Wednesday, November 8th. Zacks Investment Research cut Foundation Building Materials from a hold rating to a sell rating in a research report on Monday, September 25th. Finally, Robert W. Baird reiterated a hold rating and issued a $15.00 price target on shares of Foundation Building Materials in a research report on Monday, October 9th. One investment 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. Foundation Building Materials has a consensus rating of Buy and a consensus price target of $18.71.

Foundation Building Materials (NYSE FBM) opened at $15.51 on Friday. Foundation Building Materials has a 12 month low of $11.03 and a 12 month high of $17.91. The company has a market capitalization of $664.84 and a price-to-earnings ratio of -119.31. The company has a debt-to-equity ratio of 2.02, a current ratio of 2.63 and a quick ratio of 1.82.

Foundation Building Materials (NYSE:FBM) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $0.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.08. Foundation Building Materials had a negative return on equity of 2.98% and a negative net margin of 0.11%. The firm had revenue of $535.40 million for the quarter, compared to analysts’ expectations of $535.81 million. Foundation Building Materials’s revenue for the quarter was up 28.8% compared to the same quarter last year. research analysts predict that Foundation Building Materials will post 0.17 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in FBM. Schwab Charles Investment Management Inc. grew its position in Foundation Building Materials by 100.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 49,328 shares of the company’s stock valued at $635,000 after acquiring an additional 24,666 shares during the period. Rhumbline Advisers bought a new stake in shares of Foundation Building Materials during the second quarter worth $175,000. Bank of New York Mellon Corp grew its holdings in shares of Foundation Building Materials by 40.6% during the second quarter. Bank of New York Mellon Corp now owns 45,653 shares of the company’s stock worth $587,000 after purchasing an additional 13,191 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in shares of Foundation Building Materials during the second quarter worth $285,000. Finally, Prudential Financial Inc. bought a new stake in shares of Foundation Building Materials during the second quarter worth $282,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

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Foundation Building Materials Company Profile

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.

Analyst Recommendations for Foundation Building Materials (NYSE:FBM)

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