Foundation Building Materials (NYSE:FBM) Trading 6.5% Higher

Shares of Foundation Building Materials Inc (NYSE:FBM) traded up 6.5% during trading on Friday . The company traded as high as $17.78 and last traded at $17.78. 472,780 shares traded hands during mid-day trading, an increase of 217% from the average session volume of 148,926 shares. The stock had previously closed at $16.69.

A number of analysts have commented on the company. Zacks Investment Research upgraded Foundation Building Materials from a “sell” rating to a “hold” rating in a research report on Tuesday, June 4th. ValuEngine upgraded Foundation Building Materials from a “sell” rating to a “hold” rating in a research report on Thursday, April 11th. Finally, TheStreet upgraded Foundation Building Materials from a “d+” rating to a “c” rating in a research report on Friday, April 26th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $12.33.

The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.40 and a current ratio of 2.05. The company has a market cap of $764.33 million, a price-to-earnings ratio of 29.15 and a beta of 1.36. The firm has a 50-day moving average of $15.71.

Foundation Building Materials (NYSE:FBM) last posted its earnings results on Monday, May 6th. The company reported $0.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.05. The business had revenue of $514.87 million during the quarter, compared to the consensus estimate of $509.19 million. Foundation Building Materials had a positive return on equity of 7.22% and a negative net margin of 0.35%. Foundation Building Materials’s revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.03) EPS. Research analysts anticipate that Foundation Building Materials Inc will post 0.8 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA lifted its position in shares of Foundation Building Materials by 680.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,081 shares of the company’s stock worth $30,000 after buying an additional 2,686 shares during the period. Globeflex Capital L P lifted its position in shares of Foundation Building Materials by 18.4% during the 1st quarter. Globeflex Capital L P now owns 14,875 shares of the company’s stock worth $146,000 after buying an additional 2,308 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Foundation Building Materials by 45.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 18,925 shares of the company’s stock worth $157,000 after buying an additional 5,925 shares during the period. Rhumbline Advisers lifted its position in shares of Foundation Building Materials by 42.3% during the 4th quarter. Rhumbline Advisers now owns 20,189 shares of the company’s stock worth $168,000 after buying an additional 5,997 shares during the period. Finally, Bank of America Corp DE lifted its position in shares of Foundation Building Materials by 292.8% during the 4th quarter. Bank of America Corp DE now owns 28,059 shares of the company’s stock worth $233,000 after buying an additional 20,916 shares during the period. Institutional investors and hedge funds own 90.39% of the company’s stock.

About Foundation Building Materials (NYSE:FBM)

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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