ValuEngine upgraded shares of Foundation Building Materials (NYSE:FBM) from a sell rating to a hold rating in a research report released on Tuesday morning, ValuEngine reports.
Separately, Zacks Investment Research raised shares of Foundation Building Materials from a hold rating to a buy rating and set a $17.00 price objective for the company in a research note on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $14.50.
Shares of NYSE FBM opened at $17.10 on Tuesday. The firm has a fifty day moving average price of $16.91 and a 200-day moving average price of $15.65. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.98 and a quick ratio of 1.38. The stock has a market cap of $735.13 million, a PE ratio of 48.86 and a beta of 1.44. Foundation Building Materials has a 1 year low of $7.62 and a 1 year high of $19.74.
Foundation Building Materials (NYSE:FBM) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.12. The firm had revenue of $559.91 million during the quarter, compared to analysts’ expectations of $574.68 million. Foundation Building Materials had a net margin of 0.08% and a return on equity of 9.30%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.08 earnings per share. On average, research analysts expect that Foundation Building Materials will post 0.85 EPS for the current year.
In other news, major shareholder John P. Grayken sold 4,750,000 shares of the stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $16.28, for a total value of $77,330,000.00. Corporate insiders own 0.84% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Foundation Building Materials during the second quarter valued at $26,000. BNP Paribas Arbitrage SA grew its stake in Foundation Building Materials by 680.0% during the first quarter. BNP Paribas Arbitrage SA now owns 3,081 shares of the company’s stock valued at $30,000 after acquiring an additional 2,686 shares in the last quarter. Quantamental Technologies LLC purchased a new position in Foundation Building Materials during the second quarter valued at $36,000. Aperio Group LLC purchased a new position in Foundation Building Materials during the second quarter valued at $38,000. Finally, Meeder Asset Management Inc. grew its stake in Foundation Building Materials by 2,986.3% during the second quarter. Meeder Asset Management Inc. now owns 9,907 shares of the company’s stock valued at $177,000 after acquiring an additional 9,586 shares in the last quarter. 90.34% of the stock is owned by institutional investors.
Foundation Building Materials Company Profile
Foundation Building Materials, Inc distributes building products in the United States and Canada. It offers wallboard, suspended ceiling system, and metal framing products. The company also provides complementary and other products, tools, and accessories, such as wallboard accessories, stucco and finishing systems, safety accessories, fasteners, insulations, doors, and roofing products.
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To view ValuEngine’s full report, visit ValuEngine’s official website.
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