Royal Bank of Canada reiterated their hold rating on shares of Foundation Building Materials (NYSE:FBM) in a report published on Monday morning, AnalystRatings.com reports. They currently have a $15.00 price target on the stock.
Several other equities analysts have also recently commented on FBM. Raymond James reduced their price objective on shares of Foundation Building Materials from $20.00 to $18.00 and set a strong-buy rating for the company in a research note on Monday, March 16th. SunTrust Banks reduced their price objective on shares of Foundation Building Materials from $24.00 to $17.00 and set a buy rating for the company in a research note on Thursday, April 16th. Bank of America cut shares of Foundation Building Materials from a buy rating to an underperform rating and reduced their price objective for the company from $24.00 to $15.00 in a research note on Thursday, March 12th. TheStreet raised shares of Foundation Building Materials from a c rating to a b- rating in a research note on Monday, June 22nd. Finally, ValuEngine raised shares of Foundation Building Materials from a sell rating to a hold rating in a research note on Wednesday, May 6th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Foundation Building Materials currently has an average rating of Hold and an average price target of $16.75.
NYSE FBM opened at $14.87 on Monday. The company’s 50 day moving average is $14.33 and its 200-day moving average is $14.92. Foundation Building Materials has a 12-month low of $7.99 and a 12-month high of $22.14. The company has a quick ratio of 2.02, a current ratio of 2.74 and a debt-to-equity ratio of 1.84. The firm has a market cap of $674.40 million, a P/E ratio of 12.60, a price-to-earnings-growth ratio of 29.93 and a beta of 1.71.
Hedge funds have recently added to or reduced their stakes in the business. Paragon Capital Management LLC purchased a new position in Foundation Building Materials in the 1st quarter worth approximately $38,000. Point72 Hong Kong Ltd purchased a new position in Foundation Building Materials in the 4th quarter worth approximately $48,000. Great West Life Assurance Co. Can grew its stake in Foundation Building Materials by 233.3% in the 4th quarter. Great West Life Assurance Co. Can now owns 2,830 shares of the company’s stock worth $54,000 after buying an additional 1,981 shares in the last quarter. Oregon Public Employees Retirement Fund purchased a new position in Foundation Building Materials in the 1st quarter worth approximately $74,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of Foundation Building Materials by 27.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,491 shares of the company’s stock worth $77,000 after acquiring an additional 1,615 shares during the last quarter. 96.87% of the stock is owned by institutional investors and hedge funds.
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.
Featured Story: Bear Market – How and Why They Occur
Receive News & Ratings for Foundation Building Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Foundation Building Materials and related companies with MarketBeat.com's FREE daily email newsletter.