BidaskClub downgraded shares of Foundation Building Materials (NYSE:FBM) from a sell rating to a strong sell rating in a research note issued to investors on Saturday morning, BidAskClub reports.
Other equities research analysts have also recently issued reports about the stock. Barclays cut shares of Foundation Building Materials from an overweight rating to an equal weight rating and boosted their price objective for the company from $17.00 to $19.00 in a research report on Tuesday, November 17th. Stephens cut shares of Foundation Building Materials from an overweight rating to an equal weight rating in a research report on Tuesday, November 17th. Raymond James cut shares of Foundation Building Materials from a strong-buy rating to a market perform rating in a research report on Tuesday, November 17th. Zacks Investment Research cut shares of Foundation Building Materials from a hold rating to a strong sell rating in a research report on Monday, January 4th. Finally, Truist cut shares of Foundation Building Materials from a buy rating to a hold rating in a research report on Thursday, November 19th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. Foundation Building Materials presently has a consensus rating of Hold and an average target price of $17.29.
Shares of NYSE FBM opened at $19.26 on Friday. The company’s fifty day moving average is $19.22 and its 200-day moving average is $16.47. The stock has a market cap of $832.17 million, a price-to-earnings ratio of 18.52, a P/E/G ratio of 2.28 and a beta of 1.78. Foundation Building Materials has a twelve month low of $7.99 and a twelve month high of $19.97. The company has a quick ratio of 1.39, a current ratio of 2.03 and a debt-to-equity ratio of 0.99.
Foundation Building Materials (NYSE:FBM) last announced its quarterly earnings results on Saturday, November 7th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. The company had revenue of $521.30 million for the quarter, compared to analysts’ expectations of $532.57 million. Foundation Building Materials had a net margin of 2.22% and a return on equity of 10.74%. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period last year, the firm posted $0.33 earnings per share. On average, research analysts anticipate that Foundation Building Materials will post 0.78 EPS for the current fiscal year.
Several institutional investors have recently modified their holdings of the company. California Public Employees Retirement System lifted its holdings in shares of Foundation Building Materials by 3.6% during the 3rd quarter. California Public Employees Retirement System now owns 48,355 shares of the company’s stock worth $760,000 after acquiring an additional 1,678 shares during the period. Great West Life Assurance Co. Can increased its position in Foundation Building Materials by 8.1% during the 3rd quarter. Great West Life Assurance Co. Can now owns 26,061 shares of the company’s stock worth $409,000 after purchasing an additional 1,955 shares in the last quarter. State of Tennessee Treasury Department increased its position in Foundation Building Materials by 26.3% during the 2nd quarter. State of Tennessee Treasury Department now owns 17,330 shares of the company’s stock worth $271,000 after purchasing an additional 3,611 shares in the last quarter. Thrivent Financial for Lutherans increased its position in Foundation Building Materials by 25.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 18,629 shares of the company’s stock worth $293,000 after purchasing an additional 3,803 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in Foundation Building Materials by 254.9% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 5,317 shares of the company’s stock worth $84,000 after purchasing an additional 3,819 shares in the last quarter. 94.07% of the stock is owned by institutional investors.
About Foundation Building Materials
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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