Foundation Building Materials (FBM) Receives $17.67 Consensus Target Price from Brokerages

Foundation Building Materials (NYSE:FBM) has been given an average rating of “Buy” by the eight brokerages that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $17.67.

FBM has been the subject of a number of recent analyst reports. Citigroup increased 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. Zacks Investment Research raised shares of Foundation Building Materials from a “sell” rating to a “hold” rating in a research report on Tuesday, January 30th. UBS raised shares of Foundation Building Materials from an “outperform” rating to a “strong-buy” rating in a research report on Thursday, February 8th. Raymond James raised shares of Foundation Building Materials from an “outperform” rating to a “strong-buy” rating and set a $20.00 target price for the company in a research report on Thursday, February 8th. Finally, Deutsche Bank decreased their target price on shares of Foundation Building Materials from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Monday, April 9th.

Several institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. boosted its holdings in shares of Foundation Building Materials by 1.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,997,160 shares of the company’s stock worth $29,538,000 after buying an additional 32,043 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Foundation Building Materials by 7.9% in the 4th quarter. American Century Companies Inc. now owns 1,355,560 shares of the company’s stock worth $20,049,000 after purchasing an additional 99,136 shares in the last quarter. Clearbridge LLC lifted its holdings in shares of Foundation Building Materials by 10.2% in the 4th quarter. Clearbridge LLC now owns 948,623 shares of the company’s stock worth $14,030,000 after purchasing an additional 87,900 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Foundation Building Materials by 4.3% in the 1st quarter. BlackRock Inc. now owns 731,887 shares of the company’s stock worth $10,911,000 after purchasing an additional 30,335 shares in the last quarter. Finally, Elk Creek Partners LLC lifted its holdings in shares of Foundation Building Materials by 4.8% in the 1st quarter. Elk Creek Partners LLC now owns 709,616 shares of the company’s stock worth $10,580,000 after purchasing an additional 32,782 shares in the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

NYSE:FBM opened at $14.07 on Friday. The company has a market cap of $606.09 million, a price-to-earnings ratio of 46.90 and a beta of 0.34. The company has a debt-to-equity ratio of 1.66, a current ratio of 2.48 and a quick ratio of 1.65. Foundation Building Materials has a fifty-two week low of $13.87 and a fifty-two week high of $14.21.

Foundation Building Materials (NYSE:FBM) last released its earnings results on Wednesday, May 9th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. The business had revenue of $536.30 million during the quarter, compared to the consensus estimate of $533.99 million. Foundation Building Materials had a net margin of 3.66% and a return on equity of 3.74%. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.02) EPS. sell-side analysts expect that Foundation Building Materials will post 0.56 EPS for the current year.

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.

Analyst Recommendations for Foundation Building Materials (NYSE:FBM)

Receive News & Ratings for Foundation Building Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Foundation Building Materials and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply