Foundation Building Materials (FBM) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research lowered shares of Foundation Building Materials (NYSE:FBM) from a hold rating to a sell rating in a report released on Wednesday, January 10th.

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. “

A number of other brokerages have also weighed in on FBM. Robert W. Baird reiterated 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 lifted 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. Finally, Barclays set a $19.00 price target on Foundation Building Materials and gave the company a buy rating in a research report on Sunday, January 7th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $18.43.

Foundation Building Materials (NYSE:FBM) opened at $14.22 on Wednesday. The company has a current ratio of 2.63, a quick ratio of 1.82 and a debt-to-equity ratio of 2.02. Foundation Building Materials has a 1 year low of $11.03 and a 1 year high of $17.91. The stock has a market capitalization of $621.55 and a P/E ratio of -109.38.

Foundation Building Materials (NYSE:FBM) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $0.08 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.08. The firm had revenue of $535.40 million for the quarter, compared to analyst estimates of $535.81 million. Foundation Building Materials had a negative return on equity of 2.98% and a negative net margin of 0.11%. Foundation Building Materials’s quarterly revenue was up 28.8% on a year-over-year basis. analysts predict that Foundation Building Materials will post 0.16 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Tygh Capital Management Inc. grew its holdings in shares of Foundation Building Materials by 438.1% in the fourth quarter. Tygh Capital Management Inc. now owns 394,114 shares of the company’s stock worth $5,829,000 after acquiring an additional 320,874 shares during the period. American Century Companies Inc. grew its holdings in shares of Foundation Building Materials by 7.9% in the fourth quarter. American Century Companies Inc. now owns 1,355,560 shares of the company’s stock worth $20,049,000 after acquiring an additional 99,136 shares during the period. SG Capital Management LLC bought a new stake in shares of Foundation Building Materials in the fourth quarter worth $2,442,000. Strs Ohio grew its holdings in shares of Foundation Building Materials by 281.2% in the fourth quarter. Strs Ohio now owns 44,600 shares of the company’s stock worth $659,000 after acquiring an additional 32,900 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in shares of Foundation Building Materials in the fourth quarter worth $294,000. 95.47% of the stock is owned by institutional investors.

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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.

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