Foundation Building Materials (FBM) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Foundation Building Materials (NYSE:FBM) from a sell rating to a hold rating in a report published on Wednesday.

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 analysts have also recently commented on FBM. TheStreet cut shares of Foundation Building Materials from a c- rating to a d+ rating in a research report on Thursday, October 25th. Barclays lowered their price objective 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, August 13th. Finally, ValuEngine cut shares of Foundation Building Materials from a hold rating to a sell rating in a research report on Thursday, October 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. Foundation Building Materials has a consensus rating of Buy and a consensus target price of $17.67.

FBM stock opened at $8.64 on Wednesday. The company has a debt-to-equity ratio of 2.14, a quick ratio of 2.19 and a current ratio of 2.86. The firm has a market capitalization of $379.62 million, a PE ratio of 16.09 and a beta of 1.38. Foundation Building Materials has a twelve month low of $8.53 and a twelve month high of $16.40.

Foundation Building Materials (NYSE:FBM) last posted its quarterly earnings results on Thursday, November 1st. The company reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.06. Foundation Building Materials had a return on equity of 6.25% and a net margin of 2.07%. The company had revenue of $542.30 million for the quarter, compared to the consensus estimate of $555.47 million. During the same quarter in the prior year, the business posted $0.08 EPS. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. On average, analysts expect that Foundation Building Materials will post 0.48 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Clearbridge Investments LLC increased its position in shares of Foundation Building Materials by 552.3% in the 3rd quarter. Clearbridge Investments LLC now owns 1,219,735 shares of the company’s stock valued at $15,210,000 after buying an additional 1,032,755 shares in the last quarter. TIAA CREF Investment Management LLC increased its holdings in Foundation Building Materials by 13.2% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 140,987 shares of the company’s stock worth $1,758,000 after purchasing an additional 16,393 shares in the last quarter. AQR Capital Management LLC bought a new position in Foundation Building Materials during the 3rd quarter worth about $249,000. Macquarie Group Ltd. increased its holdings in Foundation Building Materials by 34.0% during the 3rd quarter. Macquarie Group Ltd. now owns 26,383 shares of the company’s stock worth $329,000 after purchasing an additional 6,700 shares in the last quarter. Finally, IndexIQ Advisors LLC increased its holdings in Foundation Building Materials by 3.9% during the 3rd quarter. IndexIQ Advisors LLC now owns 152,464 shares of the company’s stock worth $1,901,000 after purchasing an additional 5,758 shares in the last quarter. Institutional investors and hedge funds own 91.79% of the company’s stock.

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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