Royal Bank of Canada Reiterates “Hold” Rating for Foundation Building Materials (NYSE:FBM)

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.

Foundation Building Materials (NYSE:FBM) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.09. Foundation Building Materials had a net margin of 2.36% and a return on equity of 12.82%. The company had revenue of $524.26 million for the quarter, compared to analyst estimates of $519.49 million. During the same quarter in the previous year, the firm posted $0.14 earnings per share. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. Equities analysts expect that Foundation Building Materials will post 0.35 EPS for the current year.

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

Analyst Recommendations for Foundation Building Materials (NYSE:FBM)

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.